Bajaj Hindusthan Sugar Q1: Net loss widens 65% YoY to ₹74.34 crore; revenue dips 11%
Bajaj Hindusthan Sugar Limited released its Q1 results on Monday and reported a 65% year-on-year jump in its consolidated net loss. The loss of the company increased to ₹74.3 crore from ₹44.9 crore during the corresponding quarter last fiscal. The revenue of the company plunged to ₹1,363 crore, 11% down from ₹1,537 crore.
Notably, Bajaj Hindusthan Sugar Limited reported a net consolidated profit of ₹130.9 crore during Q4FY24.
As per news agency PTI, Bajaj Hindusthan Sugar Ltd, which is a prominent sugar and ethanol manufacturer in India, holds a significant position within the industry. It is affiliated with the Bajaj Group, headed by Kushagra Bajaj. The company operates 14 sugar plants, all strategically situated in the state of Uttar Pradesh.
In terms of production capacity, these plants have the ability to crush an impressive total of 1,36,000 tonnes of sugarcane each day. Moreover, the company possesses a remarkable alcohol distillation capacity, capable of producing 800 kilolitres of alcohol per day.
Segment-wise results
Segment wise the sugar sector of the company reported a loss of ₹25.3 crore to ₹33.4 crore and the revenue of the segment also dropped ₹1,512.7 crore to ₹1,355.5 crore. The distillery segment was profitable and reported a jump in profits from ₹29.1 crore to ₹44.2 crore however the revenue of the segment plunged from ₹363.7 crore to ₹297.1 crore.
The net loss of the power sector widened from ₹14.2 crore to ₹25.3 crore and its revenue plunged from ₹114.3 crore to ₹66 crore. The other segments which were profitable by ₹2.3 crore during the Q1FY23 turned into a loss of ₹9.63 crore during the quarter ending June 2023 with a slight reduction in revenue from ₹8 crore to ₹7 crore.
The Earning Per Share (EPS) of the company (both basic and diluted) stood at (0.60) during the quarter down from (0.36) during Q1FY23.
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