In an interview to CNBC-TV18, Niraj Shirgaokar, MD of Ugar Sugar Works spoke about the results and his outlook for the company.
Production in the Karnataka units has halved due to drought, said Shirgaokar.
We have seen lower realisations from power exchange, he added.
He is hopeful of having a power purchase agreement (PPA) with the government in the coming days.
On margin front, he expects 20 percent jump in production numbers in FY18.
Hence, margins will depend on cane prices, added Shirgaokar.
Watch accompanying video for more details.
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