Balrampur Chini Q3 net profit plunges by 83%
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Balrampur Chini Mills has reported result for the quarter ended June 30, 2010. The Company follows a September-october fiscal year.
Balrampur Chini Mills net profit has plunged by 83.21% to Rs 11.13 crore for the quarter ended June 30, 2010 whereas the same was at Rs 66.29 crore for the quarter ended June 30, 2009. Its total Income has increased marginally by 0.43% to Rs 540.56 crore for the quarter ended June 30, 2010 whereas the same was at Rs 538.24 crore in the previous year???s corresponding quarter.
The figures of the quarter under review is not comparable with that of previous year???s corresponding quarter as the figures for the current quarter ended June 30, 2010 and cumulative figures for 9 months ended June 30, 2010 include the operating results of and capital employed in the d SugarDivision Of IGIL. However, the Corresponding figures for the quarter ended June 30, 2009, cumulative figures for 9 months ended June 30, 2009 and the Audited figures for the year ended September 30, 2009 do not include the operating results of and the capital employed in the Sugar Division of IGIL.
Earlier, the Hon’ble Board for Industrial and Financial Reconstruction (BIFR) vide its order dated June 24, 2010 has sanctioned the Rehabilitation Scheme containing the Scheme of Arrangement between the Company and Indo Gulf Industries Ltd. (IGIL) towards demerger of Sugar Division from IGIL and vesting thereof in the Company with effect from October 01, 2008. The aforesaid Scheme of Arrangement has become effective on filing the certified copy of the order with the Registrar of Companies, Delhi and Registrar of Companies, West Bengal on July 21, 2010.
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