India's biggest sugar & ethanol company suffers loss of Rs 149 mn in Q3

Flagship company of Bajaj Group, Bajaj Hindusthan, India`s leading sugar and ethanol manufacturing company has reported loss of Rs 149.1 million for June 2010 quarter as against profit of Rs 600.8 million in the corresponding quarter last year.

Net sales of the company increased by 86.54% to stand at Rs 7,156.6 million for June 2010 quarter as against Rs 3,836.4 million in the corresponding quarter previous year.

Bajaj Hindusthan had underperformed the market over the past one month till Aug. 10, 2010, falling 3.96% compared with the Sensex`s 2.17% rise. It underperformed the market in past one quarter, declining 0.04% as against 5.13% rise in the Sensex.

Shares of the company gained Rs 0.95, or 0.82%, to trade at Rs 117.40. The total volume of shares traded was 407,986 at the BSE (1.36 p.m., Wednesday).

source: myiris