Dalmia Bharat Sugar and Industries Ltd, an Indian sugar manufacturer, reported a increase in their fourth-quarter profit, primarily driven by higher sales in their sugar and distillery segments, reports Reuters.
During the quarter ending on March 31, the company’s net profit from continuing operations almost doubled, reaching 1.25 billion Indian rupees compared to 627.2 million rupees in the previous year.
The revenue from operations witnessed a substantial growth of approximately 35.8%, amounting to 11.49 billion rupees. This boost was attributed to increased export volumes for sugar and a surge in ethanol prices.
According to a previous report by Reuters, the sugar industry in India benefited from a rise in prices during the quarter, enabling timely payments to sugarcane farmers.
