Avadh Sugar & Energy reports Rs 682 cr revenue in Q1FY24
Kolkata: Avadh Sugar & Energy Limited (MSEL) reported a revenue of Rs 682 crore from operations in Q1FY24.
The company had earned a revenue of Rs 688 crore in Q1FY23.
The reduction in revenue was due to lower allotment of domestic quota of sugar.
EBITDA in Q1FY24 stood at Rs 73 crore as against Rs 64 crore in Q1FY23, YoY growth of 14%.
Higher crushing in SS 2022-23 at 602 Lac Qlts, as against 534 Lac Qtls in SS 2021-22, increase of 13%.
Commenting on the results, C.S. Nopany, Co-Chairperson, Avadh Sugar & Energy Ltd said: “Despite initial expectations, Sugar Season (SS) 22-23 has experienced a lower-than-anticipated, domestic sugar production and a notable decline in overall exports. Ethanol has become a mainstay of the Sugar Industry and has not only helped the energy security of the country but has also helped us transform from a sugar company into a bio-fuels organization.”
IBNS
Senior Staff Reporter at Northeast Herald, covering news from Tripura and Northeast India.
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