Shree Renuka Sugars' net climbs 15.38%

The country’s largest sugar refiner Shree Renuka Sugars has posted a 15.38 per cent rise in consolidated net profit at Rs 90.20 crore for the quarter ended June 30, 2010 compared to Rs 78.10 crore in the corresponding quarter of the previous year.

Total income of the company surged to Rs 2,042.10 crore compared to Rs 889.6 crore.

The company attributed better performance to all round growth in realisation, barring ethanol.

Total sales from operations rose to Rs 1,218.8 crore in the first quarter, 2011 compared to Rs 715.5 crore in the same quarter last year.

Income from ethanol, one of the major sources, however, slumped to Rs 28.4 crore from Rs 37.8 crore during the quarter under consideration.

The sugar refiner has shown interest in more acquisitions in Brazil.

Since November last year, Shree Renuka Sugars have bought out two companies in Brazil with a cumulative cane crushing capacity of 13.6 million tonnes per annum.

source: BS