Balrampur Chini Mills’ standalone net loss has narrowed to Rs 63.90 crore for the second quarter of this fiscal on account of higher income. The UP-based mill had clocked a net loss of Rs 122.11 crore in the corresponding quarter of 2013-14.
In an interview to CNBC-TV18, Vivek Saraogi, managing director, Balrampur Chini shares his views on the company’s earnings.
Below is the verbatim transcript of Vivek Saraogi's interview with Latha Venkatesh and Sonia Shenoy on CNBC-TV18.
Latha: If you can take us through the highlights and the performance as you saw it?
A: If we see six months for the company, I will just take you through the segment results. Distillery has recorded a profit about Rs 80 crore pre-allocable expense, the inertest etc. Power has recorded Rs 47 crore, sugar is in negative of Rs 124 crore. Interest cost is Rs 59 crore and other expense un-allocable is Rs 11 crore leading to a net loss of Rs 67.86 crore for six months.
The basic thing is the loss continues in sugar. The other two divisions continue to work well and the sugar loss is after accounting for the Rs 6 given by the UP government.
So, basically this is the structure or the breakup of the results.
Sonia: Take us through how it was in Q2 specifically?
A: We see the segment there power is minus Rs 9 crore because there is hardly any production; there is repair work, etc. The distillery is plus Rs 43 crore, sugar is minus Rs 6 4 crore, interest is Rs 28 crore and the net loss for the quarter is Rs 63.9 crore.
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