Narendra Murkumbi, managing director of Shree Renuka Sugars says the company has achieved its target of planting 20,000 hectare of sugarcane in Brazil. "We should see the positive results from this planting exercise from the April-June quarter of this year," he says.
Though the quarter was operationally weak, the Belgaum-based sugar manufacturer reported a net profit of Rs 344 crore mainly on the back of forex gains. Murkumbi said the company is in advanced stages negotiations to sell its stake in Cogen and an announcement would be made shortly. Also Read: Better prices to help record profits in Q4, says Sakthi Sugars Below is the edited transcript of MurkumbiDiscover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
