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Shree Renuka Q3 consol PAT seen up 16.3% at Rs 105cr
Shree Renuka Sugars is likely to report a growth of 16.3% (YoY) in profits for third quarter of FY11. During the period, consolidated profit after tax of the company is expected to increase to Rs 105 crore as against Rs 90.3 crore in the corresponding quarter last fiscal.
Shree Renuka Sugars is likely to report a growth of 16.3% (YoY) in profits for third quarter of FY11. During the period, consolidated profit after tax of the company is expected to increase to Rs 105 crore as against Rs 90.3 crore in the corresponding quarter last fiscal.
Sales are seen going up 1.8% to Rs 2,035 crore from Rs 1,999.5 crore year-on-year. EBITDA too is seen improving significantly to Rs 450 crore in the quarter ended June 2011 as against Rs 162.6 crore in same quarter the previous year.
Company's third quarter of last financial year was particularly weak due to high cane/bagasse costs. Sugar was loss making.
However, situation is better this time, especially the sugar division as Brazilian operations contributed significantly. It's the commencement of a new crushing season in Brazil. Brazil wasn't contributing much to bottomline earlier because of legacy hedges.
Indian realizations are expected to be at Rs 27-28/kg while international at about 24-25 cent/lb.
