Renuka Sugars Ltd, a major player in India’s sugar and green energy production, has reported a consolidating net loss of Rs 205.6 crore in the second quarter of the current fiscal year. This figure marks a significant increase from the Rs 141.6 crore net loss reported in the same period last year.
Despite the increase in net loss, the company has seen a rise in total income, which reached Rs 2,564.7 crore in the July-September period of the current fiscal year. This is an improvement from the Rs 2,203.3 crore reported in the corresponding period of the previous year. However, total expenses have also increased, reaching Rs 2,771.9 crore in the period under review, up from Rs 2,335.1 crore a year ago.
Shree Renuka Sugars is a subsidiary of Wilmar Sugar Holdings Pte Ltd, based in Singapore, and is known for being one of India’s largest sugar and green energy producers, specializing in ethanol and renewable power. The company’s financial performance in the second quarter of the fiscal year has sparked interest and concern among industry experts and stakeholders.