Vishwaraj Sugar Industries jumped 16.13% to Rs 141.10 after the company's net profit soared 162% to Rs 30.46 crore on 18.6% decline in net sales to Rs 82.75 crore in Q3 December 2020 over Q3 December 2019.
Profit before tax zoomed 169% to Rs 31.30 crore in Q3 December 2020 from Rs 11.63 crore registered in Q3 December 2019. Current tax expense in quarter ended December 2020 stood at Rs 0.83 crore.The company in its notes to accounts said that the spread of COVID-19 has not impacted the company as it is engaged in manufacturing of sugar, generation of power, production of ethanol, vinegar etc, which falls under the category of essential commodities.
Vishwaraj Sugar Industries has an integrated sugar based unit producing sugar, power, spirits (including iml, industrial spirits and ethanol) and compost. The production facility is located at Belgaum in North West Karnataka.
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