Latest News | Shree Renuka Sugars' Net Loss Widens to Rs 138.9 Cr in Jun Qtr

New Delhi, Aug 11 (PTI) Shree Renuka Sugars Ltd on Friday reported a consolidated net loss of Rs 138.9 crore in the June quarter due to higher expenses.

Its net loss stood at Rs 113.9 crore in the year-ago period.

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Total income, however, rose to Rs 2,354.6 crore during the April-June period of 2023-24 financial year from Rs 1,970 crore in the corresponding period of the previous year, according to a regulatory filing.

The company's total expenses rose to Rs 2,491.5 crore in the first quarter of this fiscal from Rs 2,083 crore in the year-ago period.

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"This quarter's (April-June) results must be seen in the light of inflationary headwinds, high interest rates, weakening currency and disruption caused at our Kandla refinery by cyclone Biparjoy," Shree Renuka Sugars said in the filing.

Shree Renuka Sugars Ltd, one of the leading sugar and green energy (ethanol and renewable power) producers in the country, is a subsidiary of Singapore-based Wilmar Sugar Holdings Pte Ltd.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)