Shree Renuka Sugars posts net loss of Rs 71.9 crhttps://indianexpress.com/article/news-archive/web/shree-renuka-sugars-posts-net-loss-of-rs-71-9-cr/

Shree Renuka Sugars posts net loss of Rs 71.9 cr

The total income from operations declined to Rs 1,661 crore in the January-March quarter.

Shree Renuka Sugars today reported a consolidated net loss of Rs 71.9 crore for the quarter ended March,2012 as against a net profit of Rs 59.4 crore in the year-ago period.

The total income from operations declined to Rs 1,661 crore in the January-March quarter of 2012 from Rs 1,840.3 crore in the corresponding period of last year,Renuka Sugars said in a filing to the Bombay Stock Exchange.

The company has posted a net loss due to fall in other income to Rs 13.6 crore in the March quarter from Rs 46.1 crore in the year-ago period and rise in finance cost to Rs 207.8 crore from Rs 186.2 crore in the review period.

That apart,the company had a foreign exchange loss of nearly Rs 100 crore during the March quarter.

For the 18-months ended March 31,2012,Renuka has posted a consolidated net loss of Rs 31 crore.

In 2009-10 fiscal (October-September),it had achieved a net profit of Rs 703.4 crore. Shree Renuka Sugars is the largest refiner in the country.

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Shares of the company closed at Rs 27.25 apiece,up 0.18 per cent on the BSE over their previous close.