The Board of Directors of Avadh Sugar & Energy Limited (ASEL) (BSE: 540649 / NSE: AVADHSUGAR) at its meeting held on 05thFebruary, 2018 took on record the Unaudited Financial Results for the quarter ended 31stDecember, 2017.
|Particulars (Rs crore)||Q3
|EPS (Rs.) (not annualized)||43||59||127||123|
Commenting on the results, Mr. C.S. Nopany, Co-Chairperson, Avadh Sugar & Energy Ltd said:
“After a strong first half FY18, sugar prices witnessed a sharp decline in Q3 FY18, continuing in Q4 FY18. In anticipation of a higher production during the season 2017-18 and 2018-19, there was a strong sense of pessimism in the market with a bearish trend. While the fundamentals of the industry are still strong, it is expected that stability will return during Q1 of FY19. Avadh Sugar has focused on de-leveraging and reducing its finance cost apart from focusing on efficiency enhancement and de-bottlenecking. We are happy that our cane development programme is bearing fruit and we see this stabilising our performance in the future.”