Balrampur Chini gains 5% post Q4 results, share buyback announcement

The company announced a buyback of 10 million shares at Rs 180 per share via tender offer

Shares of Balrampur Chini Mills climbed 5 per cent to Rs 141.70 on the BSE on Wednesday after the company posted a 31.1 per cent year-on-year (YoY) growth in revenue to Rs 1,740 crore in March quarter (Q4FY20) results, led by aggressive exports in the current season.

The company's operating profit declined 6.6 per cent y-o-y to Rs 241 crore, largely impacted by decline in power revenues. Net profit declined 14.8 per cent at Rs 230 crore, impacted by lower taxation in base quarter.

The management said the sugar segment delivered a healthy performance on the back of