Renuka Sugars net up 6.38%

Shree Renuka Sugars (SRS), India's largest ethanol producer, reported a modest 6.38 per cent increase in net profit at Rs 36.7 crore (including Rs 12.9 crore from unrealised forex gains) during the third quarter (April-June 2007) of the current sugar year (October- September) against Rs 34.5 crore in the corresponding period last year.

However, the company recorded a 19 per cent decline in turnover during the period under consideration at Rs 277.2 crore. The net profit during the first nine months of the sugar year, however, declined by 30 per cent to Rs 70.2 crore from Rs 100.8 crore in the last sugar year. The turnover for the nine months declined to Rs 719 crore from 784.4 crore.