Kolkata, November 06, 2018: The Board of Directors of Avadh Sugar & Energy Limited (ASEL) (BSE: 540649 / NSE: AVADHSUGAR) at its meeting held on 01stNovember, 2018 took on record the un-audited Financial Results for the quarter ended September 2018.
|Particulars (Rs crore)||Q2
|Total Income (Net)||480.82||623.92||1076.91||1242.67|
|EPS (Rs.) ( not annualized)||-18.82||50.61||17.42||84.40|
Commenting on the results, Mr. C.S. Nopany, Co-Chairperson, Avadh Sugar & Energy Ltd said:
“After a bumper production in 2017-18 of 32.47 MT, sugar prices spiralled downwards during the early part of the current year with supply outstripping demand. Prompt action by the Government of India to re-introduce the release mechanism and mandate exports helped in stabilizing sugar prices. Furthermore, the latest Ethanol policy encourages the production of Ethanol from B-Heavy Molasses which will also help in balancing the sugar demand and supply equation in the long run.
Although there was record plantation of sugarcane this year, we are cautious on the future outlook of the industry due to untimely rainfall in parts of the sugarcane belt along with a pest attack in Maharashtra and Karnataka. Nevertheless, continued proactive action by the Government is essential to overcome the current crisis in the industry.”
Corporate Comm India(CCI Newswire)