Business Daily from THE HINDU group of publications
Tuesday, Jul 25, 2006


News
Features
Stocks
Cross Currency
Shipping
Archives
Google

Group Sites

Corporate Results - Sugar
Agri-Biz & Commodities - Financial Performance
Ponni Sugars net profit jumps

Our Bureau

Chennai , July 24

Ponni Sugars (Erode) Ltd has reported a four-fold jump in net profit of Rs 2.40 crore on net sales of Rs 32.25 crore for the first quarter ended June 30, 2006. During the corresponding quarter in the previous year, the company reported a net profit of Rs 57 lakh on net sales of Rs 21.19 crore.

The company's performance during the quarter has been buoyant as the quantity of sugarcane crushed and sugar production more than doubled over the corresponding period in the previous year. Cane crushed was 1.39 lakh tonnes (64,266 tonnes); sugar produced 13,660 tonnes (6,076 tonnes).

Addressing the company's annual general meeting last week, its Chairman, Mr N. Gopala Ratnam, said that the company is on a strong financial platform and will be able to launch its growth plans.

It has initiated steps for setting up a greenfield sugar mill with cogeneration and ethanol facilities. Cogeneration at the Erode mills is also being considered, apart from an ongoing Rs 10 crore modernisation plan.

It may be recalled that the company took on a debt of Rs 40 crore, when it demerged from its operations in Orissa, which were loss making. Mr Gopala Ratnam said that the debt servicing was contracted on a conservative note to stretch over 12 years. But the company has been able to meet the debt commitments in half that timeframe due to its buoyant performance.

More Stories on : Sugar | Financial Performance

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page



Stories in this Section
Aventis Q2 net rises 28 pc


Ponni Sugars net profit jumps
Sutlej Textiles net up at Rs 11.21 cr
Nahar Q1 net jumps 35 pc
Godrej Ind net profit up 74%
ABB India posts 65 pc increase in Q2 net profit
Ruchi Soya Q1 net up 32 pc
Helios & Matheson net up 72%
Kewal Kiran Clothing net at Rs 4.5 cr
Carborundum net profit rises 46 pc
IDFC Q1 net profit rises 20 pc
Zee Tele Q1 net dips 28 pc


The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | Business Line | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |

Copyright 2006, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line