BENGALURU (Reuters) - India's Dalmia Bharat Sugar and Industries Ltd on Friday said its fourth-quarter profit nearly doubled, aided by higher sales in their sugar and distillery segments.
The sugar manufacturer's net profit from continuing operations rose to 1.25 billion Indian rupees ($15.28 million) in the quarter ended March 31 from 627.2 million rupees.
Revenue from operations rose nearly 35.8% to 11.49 billion rupees, as export volumes for sugar went up and ethanol prices spiked.
WHY IT MATTERS
India's sugar manufacturers have gained from a hike in prices during the quarter, which helped sugarmakers make cane payments to farmers on time, Reuters reported last month.
Sugar sales remained high as India is set to record one of its hottest summers, which is likely to boost consumption of sugar products such as cold drinks and ice cream.
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Sugar production, however, slowed, hurt by lower output from the western state of Maharashtra, the country's top producer of the sweetener.
PEER COMPARISON
Valuation (next 12 Estimates Analysts
months) (next 12 '
months) sentimen
t
RIC PE EV/EBI Price/ Revenue Profit Mean # of Stock to Div
TDA Sales growth growth rating* analyst price yield
s target** (%)
Dalmia Bharat Sugar DLMI. 7.43 NaN NULL NULL NULL Buy 0 0.75 1.09
and Industries Ltd NS
Balrampur Chini BACH. 13.18 10.09 3.52 20.30 74.10 Buy 5 0.84 0.65
Mills Ltd NS
Dwarikesh Sugar DWAR. 9.21 6.38 3.42 1.35 62.11 Strong 4 0.70 2.25
Industries Ltd NS Buy
Dhampur Sugar Mills DAMS. 8.93 6.58 3.60 -0.43 15.08 Buy 1 0.91 2.03
Ltd NS
($1 = 81.7800 Indian rupees)
(Reporting by Biplob Kumar Das in Bengaluru; Editing by Janane Venkatraman)
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
