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Bajaj Hindusthan, the country's largest sugar producer, today posted a standalone net profit of Rs 1.95 crore for the second quarter ended March 31, 2013.
The company had clocked a net profit at Rs 8.78 crore in the same quarter last financial year, which runs from October to September.
In a filing to the BSE, Bajaj Hindusthan said the results announced for the second quarter of the 2012-13 fiscal are not comparable with corresponding figures of the last year due to merger of Bajaj Eco-Tec Products Ltd with itself.
In the second quarter of this year, the company's total income from sugar and other business operations increased to Rs 1,297.16 crore from Rs 1,226.16 crore in the year-ago period.
The revenue from sugar segment increased to Rs 1,124.43 crore in the quarter-ended March, this year, as against Rs 1,093.41 crore in the same period corresponding year.
Income from distillery division rose to Rs 162.48 crore from Rs 115.92 crore, while revenue from power business improved to Rs 223.09 crore from Rs 190.36 crore in the review period.
Besides, the company informed BSE that its Board has approved re-appointment of Shishir Bajaj as Chairman and Managing Director of the company for a tenure of five years with effect from July 1, 2013 subject to necessary approvals by shareholders and others.
Bajaj Hindusthan has 14 sugar mills with cane crushing capacity of 1.36 lakh tonnes per day.
Shares of the company were last trading 1.84 per cent down at Rs 21.30 on the BSE.
