ASEL posts Total Income of Rs 1926.22 cr

12 Feb 2019

The Board of Directors of Avadh Sugar & Energy Limited (ASEL) took on record the un-audited Financial Results for the quarter ended December 2018.  Total Income (Net) stood at Rs 1926.22 crore, Ebidta at Rs 282.59, PBT posted at Rs 163.76 crore and PAT posted at Rs 127.52 crore.
Commenting on the results, C.S. Nopany, Co-Chairperson, Avadh Sugar & Energy Ltd said: “The sugar season 2018-19 started with a surplus inventory and record production estimates. Sugar prices both domestically and internationally remained in a severe bearish grip. Prompt action by both the Central and State Governments in encouraging exports and the reimposition of the release mechanism has helped in stabilizing the downward spiral of sugar prices. The financial assistance by the State Government of UP has helped in reducing the cane arrears.
The renewed thrust in Ethanol blending in fuel is a promising step by the Central Government who has now allowed and incentivized the production of ethanol from B-Heavy Molasses. Not only will this help in diverting sugarcane from the production of sugar, it will reduce oil imports and is environmentally friendly.
I am extremely pleased with the performance of the company that has focussed on efficiency and productivity. Our continued efforts on cane development has yielded results with high sugar recoveries and technical efficiencies that will set Avadh apart despite adverse market conditions, he added.” (EOIC)