Balrampur Chini Mills, the country's second-largest sugar firm, today reported a standalone net profit of Rs 87.80 crore for the quarter ended December 31, on account of lower expenses and financial costs.
It had posted a net loss of Rs 65.69 crore in the year-ago period, the company said in a BSE filing.
Net sales remained flat at Rs 848.88 crore in the October-December period of 2015-16 fiscal, as against Rs 841.69 crore in the same period last year.
However, the company's expenses remained lower at Rs 756.80 crore as against Rs 894.13 crore, while its finance cost came down to Rs 7.58 crore from Rs 16.18 crore in the said period.
Balrampur Chini has 11 factories in Uttar Pradesh, having an aggregate crushing capacity of 79,000 tonnes per day.
UP based sugar mills have been incurring losses for last few quarters as sugar prices were below the the cost of production.
However, in the last few weeks, sugar prices have started firming up following several government measures including export incentive to millers.
