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ASEL reports of PBT of Rs 30 cr in Q1FY23 Avadh Sugar
Image: Pixabay

ASEL reports of PBT of Rs 30 cr in Q1FY23

India Blooms News Service | @indiablooms | 10 Aug 2022, 08:50 pm

Kolkata: Avadh Sugar & Energy Limited (ASEL) (BSE: 540649 / NSE: AVADHSUGAR) reported a profit before tax (PBT) of Rs 30 crores in the quarter ended June 30, 2022 as against Rs 29 crores in Q1FY22.

AESL said its total income stood at Rs 688 crores in Q1FY23, a growth of 11 percent over Rs 619 crores in Q1 FY22

During the period under review, the company's ethanol dispatch stood at 268 lakh liters, up 41 percent year-on-year (YoY).

Commenting on the results, Avadh Sugar & Energy Ltd Co-Chairperson C.S. Nopany said, “The Indian sugar industry continues to be propelled by the positive market dynamics and structural changes like robust exports, sustainable ethanol demand, and stable sugar realizations. A higher diversion towards ethanol production to meet the blending target of over 10 percent in 2022-23 is likely to maintain the sugar demand and supply balance.

Nopany said the focus on improved and efficient operations helped Avadh Sugar to adapt to the changing market dynamics and financial discipline.

Continued investment in the ethanol sector will help ASEL deliver better margins and enhance stakeholders’ value, he added.