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MSEL, ASEL take record of unaudited financial results for the quarter ending Jun 30

MSEL, ASEL take record of unaudited financial results for the quarter ending Jun 30

India Blooms News Service | @indiablooms | 22 Aug 2020, 08:29 pm

Kolkata/IBNS: Magadh Sugar & Energy Limited (MSEL) and Avadh Sugar & Energy Limited (ASEL) earlier this month took on record of unaudited financial results for the quarter that ended Jun 30.

Commenting on the results, C.S. Nopany, Chairperson, Magadh Sugar & Energy Ltd said, "We are operating in a tough economic environment which continues to be uncertain given the Covid-19 pandemic.

"Our efforts over the last couple of years in terms of optimizing costs, enhancing scale and integration along with diversified businesses have ensured stability of our businesses."

Sugar Stock of MSEL as on Jun 30, 2020 was at 20.48 lakh quintals while average realization in Q1 FY21 was Rs. 3209/- per quintal.

Commenting on the results, C.S. Nopany, Co-Chairperson, Avadh Sugar & Energy Ltd said, "After a lower estimated production in sugar season 2019-20 at 27 MMT, plantation reports indicate a significant jump in the sugarcane production for the season 2020-21."

Sugar Stock of ASEL on Jun 30, 2020 was at 46.94 lakh quintals while the average realization in Q1 FY21was Rs.3131.67per quintal.