Weighed down by a 24 per cent rise in one-time provisioning towards the differential cane price liability, the K. K. Birla Group-owned, Upper Ganges Sugar and Industries Ltd (UGSIL) posted a net loss of Rs 20 crore for the quarter ended December 31, 2011, against a profit of Rs 4 crore during the corresponding period last year.

Net sales dropped by about 20 per cent to Rs 135 crore. Shares of UGSIL fell by 0.33 per cent to close at Rs 45.85 on the BSE on Monday.

The company has three sugar manufacturing units with an aggregate crushing capacity of about 18,000 tonnes of sugarcane per day.

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