Renuka Sugars net profit jumps two-fold

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SummaryShree Renuka Sugars reported an over two-fold jump in its consolidated net profit at Rs 187 cr.

Shree Renuka Sugars Ltd today reported an over two-fold jump in its consolidated net profit at Rs 187 crore for the quarter ended June 30, on higher sales and other income.

The company had posted a net profit of Rs 90.2 crore in the year-ago period.

The consolidated net sales increased by over 10 per cent at Rs 2,258 crore during April-June quarter against Rs 2,044.6 crore in the corresponding quarter of last year, Renuka Sugars said in a filing to the Bombay Stock Exchange.

The company's total income from operations rose to Rs 2,240 crore in the third quarter of 2010-11 fiscal from Rs 1,999.5 crore in the same quarter of previous fiscal.

Sugar firms follow October-September period as financial year in line with sugar season.

The other income jumped nearly three-fold Rs 125.9 crore in the June quarter from Rs 42.6 crore in the same quarter of last year.

Renuka Sugars operates 11 mills globally, with a total crushing capacity of 20.7 million tonnes per annum (MTPA) or 94,520 tonnes crushed per day (TCD).

The company operates seven sugar mills in India with a total crushing capacity of 7.1 MTPA or 35,000 TCD and two port based sugar refineries with expected capacity of 1.7 MTPA.

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