Bajaj Hindusthan net up 130% to Rs 140cr

Sugar major Bajaj Hindusthan Limited registered a 130 per cent growth in net profit during the financial year ended September 30, 2005, to Rs 140.4 crore, up from Rs 61 crore in 2004-05. Total revenue of Bajaj Hindusthan increased 65.8 per cent to Rs 900.1 crore from Rs 543 crore in the previous year.

Its stock closed on BSE at Rs 237.4, marginally up from yesterday's level of Rs 235.10.

The company's board has recommended a 50 per cent dividend payment (Rs 0.50 per equity share of face value of Re 1 each) for the year 2004-05.

The company's profit before interest, depreciation and tax (EBIDTA) recorded a 98 per cent rise to Rs 218.8 crore, from Rs 110.6 crore in 2003-04.

The sugar sales volume increased by 43.4 per cent during the year to touch 457,988 tonne and production of industrial alcohol volume grew by 18.3 per cent to 25,939 kilolitres.

The price of sugar in the international market would increase by 40-50 per cent in 18- 20 months due to the increase in consumption volume in China and India, Bajaj Hindusthan managing director Kushagra Nayan Bajaj said.

"Another major in sugar producer Brazil has cut short its production by half to increase the production of ethanol," he added.