Avadh Sugar & Energy Ltd, a company within the K K Birla group, has disclosed a net profit of INR 29 crore for the quarter ending in September, marking a significant improvement from the INR 16 crore loss recorded in the same period last year.
During the quarter, the Kolkata-based company reported a total income of INR 799 crore, showcasing a notable increase from the INR 594 crore recorded in the corresponding period of the previous year.
The company reported a higher EBITDA of iNR 78 crore for July-September compared to INR 6 crore in the same period last year, according to a statement released by the company.
“The company now proposes to increase sugar cane crushing capacity from 10,000 TCD (tonnes of cane crushed per day) to 13,000 TCD, and also improve energy efficiency,” it said.
“The Indian agri-economy was impacted by the El Nino effect in 2023, resulting in a rainfall deficit during the critical months of the sugarcane cycle. With an anticipated lower production in the upcoming sugar season, we expect domestic sugar prices to remain firm, reinforcing our positive outlook on the sector,” Co-chairperson C S Nopany said.