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Balrampur Chini Mills jumps after commissioning new distillery in UP

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Balrampur Chini Mills rose 3.91% to Rs 191.25 after the company said it commissioned a new distillery on Sunday, 12 January 2020, at its Gularia unit in Uttar Pradesh.

The sugar manufacturer said the new distillery has a capacity of 160 KLPD (kilolitres per day). With this, the total distillation capacity of the firm now stands at 520 KLPD. The announcement was made during trading hours today, 13 January 2020.

In a separate announcement during market hours today, 13 January 2020, the company said that for the quarter ended 31 December 2019, the proceeds from the issue of commercial papers are being utilised for the working capital requirements and in adherence to other listing conditions.

In the past one month, the Balrampur Chini Mills stock jumped 12.17% to its current market price of Rs 191.25.

Balrampur Chini Mills' consolidated net profit rose 7.9% to Rs 99.80 crore on 15.6% decline in net sales to Rs 856.97 crore in Q2 September 2019 over Q2 September 2018.

Balrampur Chini Mills is an integrated sugar manufacturing company. The firm is engaged in the manufacturing of sugar, ethanol and power. The company's segments include sugar, distillery, co-generation and others.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, January 13 2020. 15:39 IST