Empee Sugars net profit zooms 621 pc at Rs 78.75 cr for Q1

Mumbai, July 29 (UNI) Chennai-based Empee Sugars and Chemicals Ltd, has reported an impressive jump of 621 per cent in its net profit for the financial year ended June 30, 2006. Net profit stood at Rs 78.75 crore as compared to Rs 109.23 for the financial year ended June 2005.

Net Sales for the year ended June 2006 stood at Rs 993.62 crore, an increase of 30 per cent when compared to Rs 764.32 crore of the previous year ended June 2005.

Net sales for the quarter ended June 30, 2006 (financial year July 2005-June 2006) declined marginally by 20 per cent to Rs 301.98 crore when compared to Rs 377.58 crore for the corresponding quarter last year.

Net profit for the quarter ended June 30, 2006 jumped by 180 per cent to Rs 11.04 crore when compared to Rs 3.94 crore of the corresponding quarter the previous year.

Commenting on the results, Mr M P Purushothaman, Chairman, Empee Group, said, ''Our sales this quarter has declined mainly because of lack of raw sugar processing this year. Despite this, we have been able to achieve extremely good results and with our expansion plans progressing well, we are confident of achieving healthy growth both in sales as well as profitability and thrive in the years to come.'' Empee Sugars has drawn up expansion plans for its Naidupet plant.

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