New Delhi, August 24, 2017: The Board of Directors of MSEL at its meeting held on 14th August, 2017 took on record the Un audited Financial Results for the first quarter ended 30 thJune, 2017.
(Rs.in lacs)
|
FINANCIALS AT A GLANCE |
Q1 FY18 |
Q1 FY17 |
|
Revenue from operations |
16193.69 |
16342.72 |
|
EBITDA |
698.03 |
2354.08 |
|
Profit (Loss) Before Tax |
(1403.08) |
629.39 |
|
Profit (Loss) After Tax |
(1383.42) |
344.18 |
|
Total Comprehensive Income |
(1405.01) |
336.23 |
|
EPS |
(13.74) |
3.42 |
Commenting on the results, Shri C SNopany, Chairman, Magadh Sugar & Energy Limited said:
“We are pleased that Magadh Sugar has now completed the restructuring of its operations in Bihar and is poised to take advantage of the inherent synergies and efficiencies of this consolidation. While season 2016-17 did not witness any significant increase in production due to unseasonal rains, the Company is encouraged by the sharp jump in cane plantation for the forthcoming 2017-18 sugar season.
Magadh Sugar is focusing on de bottle necking and energy improvement schemes to further enhance its gross margins. The Company is also focused on increasing cane plantation with high yielding and high sucrose varieties of sugarcane in Bihar. We expect these measures will be beneficial to the Company in the long run.”
Glimpses:
The equity shares of the Company have been listed on NSE, BSE and CSE and started trading w.e.f. July 28, 2017.
The Company has been assigned A- rating by CARE for its long term borrowings.
The Company has initiated Capital Investment in Energy Efficiency and de bottle necking which will result in savings in operational cost and thus improve margins.
Corporate Comm India(CCI Newswire)
