Vishwaraj Sugar shares gain 5% after Q4 revenue jumps 52%
Vishwaraj Sugar Industries, a leading player in the sugar industry, has released its quarterly results for the January-March period of the financial year 2022-23. The company has reported a 52 per cent increase in its revenue from operations YoY to ₹199 crore, according to an exchange filing by the company. The operational revenue stood at ₹130 crore in the year-ago period.
Its EBITDA during the quarter stood at ₹13.10 crore. However, it reported a net loss of ₹46.05 crore in the quarter that ended March 31, 2023. It reported a net loss after adjusting for the deferred tax.
Revenue in full FY23 grew 32 percent to ₹616 crore. Its profit before tax came in at ₹2.94 crore in the fourth quarter while the same was seen at ₹25.54 crore in the full financial year, according to an exchange filing by the company.
“VSL has again delivered a strong top-line performance, achieving significant revenue growth. This can be attributed to strong product portfolio and distribution strategies,” Mukesh Kumar, executive director, Vishwaraj Sugar, said in a statement.
Meanwhile, Vishwaraj Sugar shares on Monday climbed 4.95 per cent to close at ₹18.44 on BSE. The company has a market cap of ₹346 crore.
Vishwaraj Sugar shares have remained sideways in the last one year, yielded a moderate return of 3.60 per cent. It has corrected 35 per cent in two years.
Based out of Karnataka, Vishwaraj Sugar was incorporated in 1995. It is an integrated sugar and other allied products manufacturing company.
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