 PRESS RELEASE |
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Upper Ganges Sugar & Industry Limited declares its 2nd quarter Financial Results for the quarter ended 31st December, 2008.
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Kolkata, 19th January, 2009: Upper Ganges Sugar & Industries Ltd. (UGSIL), belonging to the K.K. Birla Group, is amongst the most efficient and rapidly expanding companies in the Sugar Industry. UGSIL owns three sugar factories at Seohara (U.P.), at Sidhwalia (Bihar) and at Hasanpur (Bihar) with an aggregate crushing capacity of about 18,000 tonnes of sugarcane per day, a distillery of 100 KLPD at Seohara (U.P.) and a Tea Estate in Upper Assam – Cinnatolliah Tea Garden.
Bharat Sugar Mills, Sidhwalia a unit of Upper Ganges Sugar & Industries Ltd [UGSIL] has been granted ISO-14001-2004 certification for the manufacture and sale of sugar and its by-products.
The Board of Directors of UGSIL at its meeting held on the 19th January 2009 approved the Unaudited Financial Results for the quarter ended 31st December, 2008. |
| FINANCIALS AT A GLANCE |
| ( Rs. in lacs ) |
| Particulars |
2nd quarter ended 31.12.2008 |
2nd quarter ended 31.12.2007 |
Year ended 30.06.2008
(Audited) |
| Turnover |
13184.75 |
8939.69 |
32841.21 |
| Profit/(Loss) before Depreciation, and Tax (PBDT) |
1266.46 |
174.95 |
1187.62 |
| Profit/(Loss) after Tax |
456.94 |
(167.57) |
(629.24) |
| EPS (Rs.) |
3.95* |
(1.45)* |
(5.44) |
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* Not annualised
After a drop in sugar output in 2007-08, India’s sugar production is estimated to fall in the season 2008-09 season that began in October. The sugar sector witnessed a reversal of trend with prices improving. Sugar prices are expected to rise because of the sustained demand and lower anticipated production. For the quarter ended 31st December, 2008, the company has posted a profit of Rs. 456.94 lacs compared to loss of Rs. 167.57 lacs in the corresponding quarter ended on 31st December, 2007.
During the quarter, the Company at its Hasanpur Sugar unit has commenced commercial production at expanded capacity of 3000 TCD.
The Company’s shares are listed at the NSE, BSE and CSE and are actively traded. |
| For further information, please contact: |
Ms. Swati Jalan / Ms. Vasudha Jain
Communications 2.0
Ph- 9830111376/ 9831148001 |
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