Balrampur Chini Mills,the country’s second largest sugar maker,today reported a 15 per cent jump in standalone net profit at Rs 129.93 crore for the quarter ended March 31.
The Uttar Pradesh-based company had posted a net profit of Rs 112.78 crore in the year-ago period.
In a filing to the BSE,the company said its standalone net income rose by 23.4 per cent to Rs 577.75 crore in the fourth quarter of 2011-12 fiscal from Rs 468.19 crore in the same period last year.
While revenue from sugar business increased by 32 per cent to Rs 517.94 crore from Rs 392.60 crore,revenue from co-generation business improved slightly to Rs 130.87 crore from Rs 124.30 crore.
However,revenue from distillery business fell 10.46 per cent to Rs 45.34 crore in the quarter ended March 31,2012,as against Rs 50.64 crore in the year-ago period.
The company also said the cost of materials was higher by 33.26 per cent at Rs 1,412.69 crore in the quarter against Rs 1,060.04 crore in the year-ago period.
It said the cost of material was high during the October-March period of 2011-12 due to payment of differential cane price of Rs 92 crore for 2007-08 marketing year as per the Supreme Court order.
The company has sugar factories with a combined crushing capacity of 76,500 tonnes per day. Its allied business consists of manufacturing and marketing of ethyl alcohol,ethanol,generation and selling of power.
The share of the company rose marginally to settle at Rs 51.20 on the BSE today.