USGIL posts nine month turnover

10 Feb 2017

Upper Ganges Sugar & Industries Ltd (USGIL) posted a turnover of Rs 83378 lakh against Rs 60477 lakh in nine months of  FY 2016-17 in its Q3 results declared recently.
EBIDTA stood at Rs 16406 lakh up from Rs 401 lakh in the last FY and cash profit stood at Rs 12416 lakh in comparison to Rs 3782 lakh in the corresponding period last year. PBT stood at Rs 11204 lakh against Rs 4787 lakh last FY and PAT Rs 5538 lakh against 4875 lakh last year.
C S Nopany, director said, “The Indian sugar cycle witnessing a change after five years of surplus production mainly attributed to drought in Maharashtra and Karnataka even though Uttar Pradesh produced 10 pc more than last year.”
As a result, sugar prices firmed up both in domestic and international markets to reasonable levels and it is expected to remain steady in the subsequent quarters, he added. (EOIC)