Riding on firm sugar prices, Triveni Engineering and Industries, the country’s third biggest sugar producer, has registered a 440 per cent increase in its net profit for the quarter ended September 30.
The company’s net profit for the quarter stood at Rs 26.96 crore as against Rs 5 crore for the corresponding quarter last year. Net sales for the quarter rose over 40 per cent to Rs 427.14 crore.
“The results reflect the improved outlook in the sugar business and continuing contribution from growing engineering businesses. Sugar prices, since July 08, have shown improvement on account of the lower than expected production for 2007-08 season and estimated lower sugar cane production for 2008-09 and 2009-10 on account of lower area under cane cultivation,” said Dhruv Sawhney, CMD, Triveni Engineering and Industries.