Net revenue from operations rose 21 per cent to Rs 1,888 crore from Rs 1,566 crore in the year-ago period
The company proposes to expand sugar capacity and ramp up co-generation plant and distillery unit in UP
The company is likely to produce 70-75 lakh quintal of sweetener in 2018-19 marketing year
DCM Shriram posted a 6 per cent decline in consolidated net profit at Rs 2.18 billion for the first quarter of this fiscal due to losses in the sugar business
The stock was up 7% to Rs 290 on the BSE in intra-day trade after the company announced that board will meet on Monday, June 18, to consider share buyback proposal.
The stock plunged 13% to Rs 380 on the BSE after the company reported 68% year-on-year dropped in net profit at Rs 510 million in March quarter.
The stock price of DCM Shriram has rallied more than 180% since April last year
DCM Shriram is engaged in sugar, fertiliser, seeds, chloro vinyl, and cement businesses among others
Net revenue of the company declined by over 19% to Rs 1,442 crore for April-June quarter of FY17
The stock rallied 12% to Rs 186 after the company posted profit of Rs 51 crore in Q4FY16 against loss of Rs 40 crore.
The company has posted a turnaround with its net profit of Rs 51 crore for the quarter ended March 31, 2016.