The sugar manufacturer informed that Sudershan Bajaj, chief financial officer (CFO) and key managerial personnel of the company has resigned from his services, due to personal reasons.
Bajaj shall be relieved from the services of the company at close of business hours on 31 July 2024.Magadh Sugar & Energy is having three sugar mills at New Swadeshi Sugar Mills, Narkatiaganj (District West Champaran, Bihar), Bharat Sugar Mills (District Sidhwalia, Bihar), Hansanpur Sugar Mills, Hasanpur (District Samastipur, Bihar) with a combined crushing capacity of 19,000 TCD.
The companys net profit increased 33.8% to Rs 46.88 crore in Q4 FY24 as against Rs 35.05 crore posted in Q4 FY23. Net sales declined 3.5% YoY to Rs 288.12 crore in March 2024 quarter.
The scrip declined 4.84% to close at Rs 778.45 on Thursday, 25 July 2024.
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