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Balrampur Chini posts Rs 106 cr profit in July-Sep

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Press Trust of India New Delhi
Last Updated : Nov 15 2016 | 8:08 PM IST
Sugar major Balrampur Chini Mills Ltd today reported Rs 106 crore stand-alone net profit for the quarter ended September as against a net loss of Rs 13.59 crore in the year-ago period and also announced buy-back of up to one crore equity shares for Rs 175 crore.
Total income rose to Rs 941.3 crore in the second quarter of this fiscal from Rs 555.8 crore in the corresponding period of the previous year, the company said in a regulatory filing.
Balrampur Chini Mills's board also approved the buyback of fully paid up equity shares not exceeding one crore shares (representing up to 4.08 per cent of the total paid-up equity share capital) at a price of Rs 175 per share payable in cash for an aggregate amount of up to Rs 175 crore.
The buyback would be subject to approval of the shareholders by way of a special resolution.
The board also noted the intention of the promoters and promoter group of the company to participate in the proposed buy back.

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First Published: Nov 15 2016 | 8:08 PM IST

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