Mumbai: According to a regulatory filing, the net profit of Balrampur Chini declined 40.05 per cent to Rs 72.50 crore in the quarter ended December 2019 on higher expenses. The company had earned a profit of Rs 120.93 crore during October-December quarter in 2018-19.
The net income of the company increased to Rs 1202.60 crore as against Rs 962.68 crore a year-ago period.
The expenses of the company increased to Rs1,118.10 crore as compared with Rs 808.46 crore in last year.
Vivek Saraogi, Managing Director of the company, commenting on the performance said, “The company has delivered stable performance during the quarter and nine months ended December 31, 2019, despite the challenging environment prevailing in the sector.”
The company, one of the largest sugar companies in India has 10 sugar mills in Uttar Pradesh.