Balrampur Chini Mills Q1 Results: Profit Down 5%, But Meets Estimates

Balrampur Chini Mills Ltd. reported a 5% year-on-year decline in net profit for the first quarter of this financial year, coming in line with analyst estimates.

The sugar manufacturer recorded a net profit of Rs 70.2 crore for the quarter ended June, compared to Rs 73.5 crore in the same quarter of the previous fiscal, according to an exchange filing on Monday. Analysts tracked by Bloomberg had estimated a profit of Rs 69 crore.

Revenue rose 2.3% year-on-year for the three months ended June, reaching Rs 1,421.6 crore. Analysts had projected a revenue of Rs 1,320 crore.

Operating income, or earnings before interest, taxes, depreciation, and amortisation, rose 2% year-on-year to Rs 166.1 crore. The Ebitda margin remained flat at 11.7%. Analysts' estimates for Ebitda and Ebitda margin were Rs 143 crore and 10.80%, respectively.

Shares of the company closed 0.82% higher at Rs 495.05 per share, compared to a 0.08% decline in the benchmark Nifty. The stock has risen 26.06% on a year-to-date basis and 20.64% over the past 12 months.