Shree Renuka Sugars Q4 results: Net profit declines 72% to Rs 42.8 crore

The company's revenue from operation rose by 7.16 per cent to Rs 2,328 crore for the March quarter as compared to Rs 2,172 crore in the year-ago period

Shree Renuka Sugars, on Friday, posted a consolidated net profit of Rs 42.8 crore for the March quarter. This is 72 per cent fall from Rs 156 crore a year ago, the company statement said.

In a regulatory filing, the company said, “The revenue from operation rose by 7.16 per cent to Rs 2,328 crore for the March quarter as compared to Rs 2,172 crore in the year-ago period.”

Shares of Shree Renuka Sugars on Friday closed at Rs 43.52 apiece, up 0.39 per cent on BSE.

"The company performance displayed strong momentum, anchored by domestic sugar and ethanol businesses despite the early closure of the crushing season. "Domestic demand growth, improved capacity utilisation and higher net realisation, especially in sugar and refinery businesses, resulted in stable Q4 performance," said Shree Renuka Sugars executive chairman Atul Chaturvedi.

The expanded ethanol production capacity to 1250 KLPD from 720 KLPD was commissioned in March 2023, and its full benefit is expected to be visible from the next financial year onwards, he said.

"The company's resilience is driven by its business model and strategy with improving capacity expansion and utilisation," he added.

(With inputs from PTI)