Uttam Sugar Mills Shares Gain After Rise In Q4 Net Profit
Shares of Uttam Sugar Mills Ltd. rose during trade on Tuesday after the company announced its unaudited financial results for the quarter ended March. The company reported a net profit of Rs 70 crore in Q4 FY23, compared to Rs 61.06 crore in Q4 FY22 and Rs 26.06 crore in the third quarter of FY23.
It recorded a 14.64% year-on-year rise and a 168.61% quarter-on-quarter rise in net profit. Uttam Sugar reported a 6.43% year-on-year increase in total income to Rs 530.12 crore during the quarter, compared to Rs 498.09 crore in the same quarter a year ago. Total income rose 11.89% quarter-on-quarter, compared to Rs 473.76 crore in Q3 of FY23.
The sugar mill’s annual total income for FY23 rose 0.86% to Rs 2,067.68 crore, against Rs 2,050.01 crore in FY22. Total expenses of the company stood at Rs 436.82 crore in the fourth quarter of FY23, compared to Rs 420.63 crore in Q4 of FY22, a rise of 3.84%.
Shares of Uttam Sugar Mills Ltd. advanced 3.05% to Rs 275.6 apiece, compared to a 0.02% rise in the benchmark NSE Nifty 50 as of 10:14 a.m. The stock rose 3.61% intraday, while the total traded volume stood at 1.9 times its 30-day average.
