Shree Renuka Sugars Ltd reported a consolidated net loss of Rs 111 crore for the fourth quarter ending March 31, compared to a profit of Rs 44.6 crore in the same period the previous year, primarily due to higher expenses.
The sugar producer’s total income rose to Rs 3,476.3 crore in January-March, up from Rs 2,370 crore a year earlier.
During the same period last year, the company’s total expenses rose to Rs 3,520.4 crore from Rs 2,319.6 crore, according to the company’s regulatory filing on Thursday.
For the financial year 2023-24, the company’s total income increased to Rs 11,367.4 crore from Rs 9,106.5 crore the last year. However, its net loss increased to Rs 627.2 crore from Rs 196.7 crore in 2022-23.
Despite these challenges, management expressed confidence in meeting all financial commitments on time, as stated in the filing. Shree Renuka Sugars is one of India’s largest producers of sugar, green energy, renewable power, and refined sugar.
Click here to read the financial results of Shree Renuka Sugars
