Simbhaoli Sugars reports Rs23.6 crore Q4 profit
12 Nov 2009
Simbhaoli Sugars Limited (SSL), one of the largest sugar refiners in the country reported a profit of Rs71.9 crore for the year ended September 2009.
The company had posted a loss of Rs29.1 crore in the corresponding period last year.
According to G S C Rao, executive director of the company, SSL plans to import 160,000 tonnes of raw sugar in 2009-10 to fully utilise its refining capacity.
He said the company has already contracted 200,000 tonnes for the season and it plans to import the rest for the season to reach its full refining output.
Rao added that India's consumption of the sweetener was around 23-24 million tonnes but considering the availability of cane, one third on consumption would be met by imports this year with the country requiring to import 8 million tonnes.
According to Simbhaoli Sugars director finance Sanjay Tapriya, the company has witnessed a robust improvement in the operating earnings and net profit due to better realisation and off season refining of raw sugar at its sugar plants.