Dwarikesh Sugar posted a 12 percent rise in third-quarter net profit to Rs 23.93 crore. Vijay Banka, MD of the company. spoke to CNBC-TV18 about the financial performance.
“Our distillery plant, which is a 30 KLPD plant, will be operational during the next three months and thereafter also. So, we should see some improved results coming from the ethanol segment. Power segment of course – power generation and power supply is going to be on full swing. So we should see some good numbers coming from the power segment also. Sugar, is a challenging segment. We have seen a big fall in the sugar prices between the last year and now. Our average selling price was more than Rs 3,500 last year and it is around Rs 3,000 this year. So sugar segment is a challenging segment,” Banka said on Tuesday.
“We have embarked upon a distillery expansion project, we have placed order for 100 KLPD brand new distillery. So we should see some improvement in the ethanol segment. This distillery will be operational during November of 2019. So the Q4 of 2019-2020 and thereafter we should see some better performance as far as the distillery segment is concerned,” he added.