Leading sugar firm Balrampur Chini Mills posted 65 per cent drop in its standalone net profit to Rs 61.42 crore in the December quarter of this fiscal.
Net profit stood at Rs 175.20 crore in the year-ago period, the company said in a regulatory filing.
The revenue increased to Rs 1,007.50 crore in the October-December period of the 2017-18 fiscal from Rs 999 crore in the year-ago period.
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Expenses remained higher at Rs 917.73 crore as against Rs 771.45 crore in the said period.
The company said that its revenue and expenses for the third quarter of the last fiscal included the excise duty and are not comparable with that of this year due to implementation of the goods and services tax (GST).
Balrampur Chini is one of the largest integrated sugar company in India. It has ten sugar factories in Uttar Pradesh.
The company's shares rose 5.37 per cent to settle at Rs 119.70 apiece on the BSE today.
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