Uttam Sugar Mills tumbled 4.06% to Rs 336.60 after the company reported -39.8% drop in net profit to Rs 42.14 crore in Q4 FY24 from Rs 70 crore in Q4 FY23.
Net sales declined 11.8% year-over-year (YoY) to Rs 465.15 crore in the fourth quarter.
On the segmental front, Sugar revenue added up to Rs 445.67 crore (down 17% YoY), Cogeneration revenue amounted to Rs 53.31 crore (down 4% YoY) and Distillery revenue aggregated to Rs 122.09 crore (up 25% YoY).
Total expenses fell by 6% to Rs 410.27 crore in Q4 FY24 over Q4 FY23, primarily due to lower raw material costs (down 10% YoY).
Profit before tax in Q4 FY24 stood at Rs 57.32 crore, down by 38.6% from Rs 93.30 crore in Q4 FY23.
For FY24, Uttam Sugar has recorded net profit and revenue of Rs 132.21 crore (up 6.9% YoY) and Rs 2,046.97 crore (down 0.6% YoY), respectively.
Uttam Sugar Mills is engaged in the manufacturing of sugar, ethanol and cogenerated power. The company has four sugar plants, out of which, one is located in the state of Uttarakhand and other three in Uttar Pradesh. The company has aggregate sugarcane crushing capacity of 26,200 TCD (tonnes of cane per day) and cogeneration capacity of 122 MW and ethanol production capacity of 300 KLPD (kilo litre per day) as on 31 December 2023.
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