Triveni Engineering and Industries, the country’s third largest sugar producer, has registered a 6.6 per cent dip in its net profit for the quarter ending December 2008 on account of increased tax provisions.
Net profit for the quarter stood at Rs 23.98 crore as against Rs 25.68 crore. Net sales grew 5.33 per cent to Rs 365.45 crore.
"In sugar segment, the performance has been significantly better on account of increased realisation of sugar and higher volume of sugar sales. With the estimated decline of sugar production during the current season, the sugar prices are on the rise and are expected to increase in the coming quarters," said Dhruv Sawhney, chairman and managing director.