Balrampur Chini Mills Ltd (BCML) today reported loss of Rs 122.11 crore for the second quarter ended September 30, due to strain in sugar business.
The company had posted net profit of Rs 48.88 crore in the July-September quarter of 2012-13 fiscal.
Total income of Balrampur Chini Mills decreased in the second quarter to Rs 568.30 crore of the current fiscal from Rs 888.22 crore in the last fiscal, the company said in a filing to the BSE.
Uttar Pradesh based company turned into red as sugar segment reported loss of Rs 97.59 crore during the second quarter of the current fiscal, whereas in the same period last fiscal the company had clocked a net profit of Rs 74.94 crore.
Balrampur Chini, the country's second largest sugar firm, has sugar plants in Uttar Pradesh with a sugarcane crushing capacity at 76,500 tonnes per day, distillery 320 kilo litre per day and co-generation 126 MW.
Shares of the company today closed at Rs 41.25 apiece, down by 2.94%, on the BSE.