White sugar is displayed in a sack (Photographer: Shirish Shete/Bloomberg)

Shree Renuka Sugars Reports Rs 3.2 Crore Profit; Stock Rises

Shree Renuka Sugars Ltd. shares rose after the company reported a profit for the second straight quarter.

Net profit stood at Rs 3.2 crore in the April to June period compared to the Rs 150 crore loss last year, according to the company’s stock exchange filing. Total income from operations increased 2.8 percent from a year earlier to Rs 1,629 crore.

Earnings before interest, tax, depreciation and amortisation was Rs 114.6 crore, versus a loss of Rs 121.4 crore in the corresponding quarter. EBITDA margin expanded to 7 percent versus a negative 7.7 percent in the first quarter of the 2016 financial year.

Shares of Shree Renuka Sugars were trading 2.4 percent higher at Rs 17 as of 10 am on the Bombay Stock Exchange. The company announced earnings post market hours on Monday.