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Business Standard

Balrampur Chini Q1 results: Net profit dips 4.6% on lower sugar output

Balrampur Chini Mills Ltd on Monday reported a 4.6 per cent drop in its consolidated net profit to Rs 70.15 crore in the first quarter of the current fiscal, as lower sugarcane availability hit production volumes. The net profit stood at Rs 73.50 crore in the same quarter previous fiscal, according to a regulatory filing. Its revenue from operations rose 2.3 per cent to Rs 1,421.59 crore in the quarter ended June 30 this fiscal from 1,389.62 crore in the year-ago period. The expenses increased to Rs 1,334 crore from Rs 1,301 crore in the said period. According to the company, sugarcane crushing remained down 54 per cent, sugar production fell 48 per cent due to lower cane availability, and the distillery segment was impacted by regulatory issues and reduced cane supply. "Despite facing challenges in distillery operations due to regulatory issues, the sugar segment has continued to perform well in a seasonally soft quarter, benefiting from higher volumes and realisations," Balrampu

The Economic Times

Balrampur Chini Mills, Asian Paints among 5 stocks with short covering

Short covering occurs when investors buy shares to close out an existing short position or one that has been previously sold, indicating a change in sentiment from strongly bearish to bullish on a particular security.

Business Line

Stock to buy today: Balrampur Chini Mills (₹419.85) – BUY

Balrampur Chini Mills share price can rise to ₹440