Triveni Engineering Sep qtr net dips 68%

Sugar major Triveni Engineering and Industries has declared consolidated net profit of the company at Rs 22.22 crore in the period under review, down 68% from Rs 69.75 crore in the year-ago period.

The consolidated net sales declined to Rs 1,707.15 crore for the fiscal ended September, 2011, as against Rs 2,260.86 crore in the previous fiscal.

Triveni, which is also a leading producer of high-speed gear boxes, has reported a 47% decline in standalone net profit to Rs 9.14 crore for the quarter ended September 30, 2011.

The company had reported a net profit of Rs 17.25 crore for the  corresponding year-ago period, it said in a filing to the BSE.

Standalone net sales of the company fell by 35% to Rs 380.31 crore in the September quarter from Rs 587.38 crore in the same period last year.

Triveni is one of the largest integrated sugar producers in the country, with a sugarcane-crushing capacity of 61,000 tonnes per day, 68 MW of power co-generation and 160 kilo-litres per day of distillery production.

Shares of the company were trading at Rs 14.90 on the BSE at 1245 hours, up 2.41% from their previous close.