Avadh Sugar posts Rs 29-crore net profit in Q2, total income at Rs 799 cr

Avadh Sugar & Energy Ltd, a K K Birla group company, has reported a net profit of Rs 29 crore for the quarter ended September as against a loss of Rs 16 crore in the corresponding period a year ago.

Total income of the Kolkata-headquartered company during the quarter stood at Rs 799 crore, compared to Rs 594 crore in the year-earlier period.

The EBITDA of the firm also came in higher at Rs 78 crore from Rs 6 crore in July-September last year, Avadh Sugar & Energy Ltd said in a release.

"The company now proposes to increase sugar cane crushing capacity from 10,000 TCD (tonnes of cane crushed per day) to 13,000 TCD, and also improve energy efficiency, it said.

The Indian agri-economy was impacted by the El Nino effect in 2023, resulting in a rainfall deficit during the critical months of the sugarcane cycle. With an anticipated lower production in the upcoming sugar season, we expect domestic sugar prices to remain firm, reinforcing our positive outlook on the sector, Co-chairperson C S Nopany said.