Balrampur Chini Mills Ltd (BCML) on Wednesday reported a loss of Rs 9.77 crore for the first quarter ended June 30, due to strain in sugar business. The company had posted net loss of Rs 18.05 crore in the April-June quarter of 2012-13 fiscal.
The total income of Balrampur Chini Mills decreased in the first quarter to Rs 681.62 crore of the current fiscal from Rs 691.96 crore in the last fiscal, the company said in a filing to the BSE.
The company reported losses of Rs 41.26 crore in the sugar business. However co-generation, distillery and other businesses of company were in profits during the first quarter. "In terms of segmental performance, higher cane cost coupled with lower realisations impacted profitability of the sugar segment," said Vivek Saraogi, managing director, BCML. He added that on a year-on-year basis, sugar and distillery segments delivered improved production and realisation.
The power segment, with higher availability of bagasse, reported healthy performance for the period under review. Balrampur Chini, the country's second largest sugar firm, has sugar plants in Uttar Pradesh with a sugarcane crushing capacity at 76,500 tonne per day, distillery 320 kilo litre per day and co-generation 126 MW.
Shares of the company were down by 7.19 percent to Rs 36.15 apiece on the BSE on Wednesday.
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