April 30, 2025 04:42 pm (IST)
Follow us:
facebook-white sharing button
twitter-white sharing button
instagram-white sharing button
youtube-white sharing button
PM Modi to skip Russia's Victory Day parade on May 9 in backdrop of Pahalgam attack | PM Modi holds top cabinet meetings amid India's wait for Pahalgam terror attack revenge | Fire in Kolkata hotel kills 14, police constitute SIT; local administration faces heat over 'negligence' | India will attack us in next 24-36 hours, claims Pakistan minister with warning of 'catastrophic consequences' | 3 killed, several injured in shooting incident in Sweden's Uppsala | BREAKING: PM Modi gives 'full freedom' to forces to avenge Pahalgam terror attack | Canada: Indian student Vanshika, who went missing for past few days, found dead | J&K govt closes 48 tourist locations as intel warns of more terror attacks after Pahalgam incident | Mark Carney leads Liberal Party to victory in Canada, Khalistan sympathiser Jagmeet Singh bites dust | India calls Pakistan 'a rogue state fuelling global terrorism' at UN amid rising border tension after Pahalgam attack
AESL
Image Credit: Pixabay

Avadh Sugar & Energy FY23 PAT declines by 19% to Rs 100 cr, revenue at Rs 2,798 cr

| @indiablooms | May 24, 2023, at 03:39 am

Kolkata: Avadh Sugar & Energy Ltd (ASEL) has reported Rs 100 crore Profit After Tax (PAT) for FY 23, marking a decline of 19% compared to Rs 124 crore in FY 22.

The company attributed the decrease in profitability to lower recovery caused by the Red Rot disease in Sugarcane.

Despite the decline in PAT, ASEL reported a growth in revenue from operations for FY 23. The revenue stood at Rs. 2798 crore, slightly higher than the previous fiscal year's revenue of Rs. 2744 crore.

However, the company's Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) witnessed a decline in FY 23. It amounted to Rs 264 crore, compared to Rs 307 crore in FY 22, reflecting a decrease of 14%.

The board of directors of ASEL has declared a dividend of Rs 10 per share on the face value of ₹10 each.

Commenting on the results, Avadh Sugar & Energy Ltd Co-Chairperson C.S. Nopany said, “The Indian Sugar Industry, after a year of record exports, continues to be a bellwether of the global sugar industry and is fuelling India’s consumption, energy security and exports. With a lower than anticipated sugar production and an overall cap on exports, prices are expected to remain stable.”

Uttar Pradesh saw a lower recovery of sugar due to the dominant sugarcane variety being affected by the Red Rot disease.

Avadh had started an aggressive varietal change program and we should start seeing results from the next season onwards, he said.

With a higher quantum of crushing in this season ethanol production received a boost. The structural changes over the past few years are reflected in the performance of the industry on the back of reduced cyclicality, said Nopany.

“At Avadh, reducing our leverage through reduction of debt and other non-current liabilities have helped the company create a solid platform for growth as well as improved productivity through our strategic investments. We hope to continue to add value to our stakeholders and look forward to a strong FY24,” he added.

Support Our Journalism

We cannot do without you.. your contribution supports unbiased journalism

IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.

Support objective journalism for a small contribution.
Related Videos
FM Nirmala Sitharaman presents Budget 2025 Feb 01, 2025, at 03:45 pm
Nirmala Sitharaman on Budget 2024 Jul 23, 2024, at 09:30 pm
PM Modi on Budget 2024 Jul 23, 2024, at 09:30 pm