Magadh Sugar Kolkata: Magadh Sugar & Energy Limited (MSEL) reported a Rs 16 crore Profit After Tax (PAT) in Q1FY24 against Rs 10 lakhs in Q1FY23.
EBIDTA in Q1FY24 stood at Rs 38 crore as against Rs 16 crore in Q1FY23.
The company reported Ethanol sale of 134.65 lakh litres, growth of 8% YoY, due to commencement of production at new distillery at Sidhwalia Unit in FY22.
Cane Crushing in SS 22-23 was higher by 41% at 228 Lac Qtls.
Commenting on the results, C.S. Nopany, Chairperson, Magadh Sugar & Energy Ltd said: “India's significance as one of the largest sugar producers was highlighted during SS2022/23 when a cap on Indian exports contributed to an upsurge in global sugar prices. Bihar showed promising improvements in crushing and recoveries this season, bouncing back from a challenging performance last year due to adverse weather conditions like unseasonal rains and floods. As we move forward into SS2023/24, it is crucial to adapt to the changing landscape and brace ourselves for reduced exports”
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