Triveni Engineering posts Q4 net loss at Rs 109 cr

Triveni Engineering posts Q4 net loss at Rs 109 cr

Triveni Engineering and Industries today posted a standalone net loss of Rs 109.52 crore during the fourth quarter of 2017-18 fiscal on lower income from its sugar business.

The company had clocked a net profit of Rs 57.26 crore in the same quarter of the previous fiscal, according to a regulatory filing.

Net income declined to Rs 741.92 crore during January-March quarter of 2017-18 fiscal from Rs 947.67 crore in the year-ago period.

“In view of significant decline in sugar prices in the fourth quarter, the profitability of the sugar business was adversely impacted, mainly due to write down of sugar inventories to net realisable value,” Triveni Engineering said.

Besides sugar, the company is engaged in co-generation, distillery and gears businesses.

Source: Business Standard – Published on: 24/05/2018