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HomeNewsBusinessStocksBalrampur Chini Mills gains on strong Q1

Balrampur Chini Mills gains on strong Q1

Backed by healthy operating numbers, Balrampur Chini Mills reported a standalone profit of Rs 69.33 crore in the June quarter

August 07, 2023 / 10:34 IST
Balrampur Chini Mills’ revenue grew 28.7 percent YoY to Rs 1,389.6 crore in the June quarter.
     
     
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    Balrampur Chini Mills gained almost a percent in the early trade after the company reported a standalone profit of Rs 69.33 crore in the first quarter of the current financial year, backed by healthy operating numbers.

    Balrampur Chini Mills' profit rose six-fold from Rs 11.6 crore in Q1FY23. The sugar manufacturer on August 5 also reported a 28.7 percent year-on-year growth in revenue at Rs 1,389.6 crore in Q1FY24. The earnings before interest, taxes, depreciation, and amortisation (EBITDA) grew 267.4 percent YoY to Rs 163.2 crore, with a 759 basis points margin expansion at 11.7 percent YoY. One basis point is one-hundredth of a percentage point.

    The earnings per share (EPS) also grew to Rs 3.64 from Rs 0.61 in Q1FY23. The earnings conference call is expected later on August 7 after which brokerages may revise their view.

    Check our LIVE Markets coverage here

    At  10.26 am, the share was trading at 414.85 on the National Stock Exchange, up around 0.5 percent from the previous close.

    Balrampur Chini Mills is one of India’s largest sugar manufacturers. Apart from sugar it also makes ethanol and alcohol, power, livestock feed, bagasse and a variety of agri-input products. Headquartered in Kolkata, the sugar manufacturer has 10 units across Uttar Pradesh.

    Moneycontrol News
    first published: Aug 7, 2023 10:31 am

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