Buoyed by effective cost control measures and better realisations, Bajaj Hindusthan Ltd (BHL), the flagship firm of Bajaj Group, has posted a net profit of Rs 60.08 crore for the third quarter ended June 30.
The company had a net loss of Rs 35.41 crore during the same period a year ago.
However, the total income of the sugar producer declined by over 15 per cent to Rs 399.33 crore in the latest quarter from Rs 473.14 crore in the corresponding quarter last year, Bajaj Hindusthan said in a statement on Tuesday.
“Despite lower sales, we could achieve a higher net profit primarily due to better realisations and effective cost control measures. The sugar prices are likely to remain firm in the near future, if not rise further,” Bajaj Hindusthan Joint Managing Director Kushagra Nayan said.
For the nine-month period ended June, 2009, the company posted a net profit of Rs 85.53 crore, registering over two-fold growth as compared to Rs 37.29 crore in the same period last fiscal.
Bajaj Hindusthan, which also produces ethanol, has tied up raw sugar of around 3 lakh tonnes, which will be converted into white sugar during the forthcoming sugar season 2009-2010.
“This will partially compensate lower sugar production owing to the expected shortfall in sugarcane during the next sugar season 2009-2010,” Nayan added.