Renuka Sugars report Dec quarter losses at Rs 208Cr
To begin with, on Thursday, Shree Renuka Sugars Ltd. posted a consolidated net loss of Rs 208.6 crores in the Dec quarter. Besides, the Wilmar group company had reported a net profit of Rs 311.1 crores in the year-ago period.
So then, its total income dropped to Rs 1,003.9 crores in the third quarter of this fiscal. However, it stood at Rs 1,140 crores in the corresponding period of last year.
Also, as of Dec 2019, the current liabilities of the group exceed its current assets by Rs 3,311 crores. However, the company had continued to suffer losses in the last year ended Mar 31, 2019. Also, it has seen losses in the current nine-month period ended Dec 31, 2019.
Despite this, the group has a negative net worth of Rs 569.9 crores as of Dec 31, 2019. However, group management expects to produce operational cash-inflows in the next 12 months. So then, this would support the group to meet its near future goals.
Besides, Shree Renuka Sugars Ltd. (SRSL) stood as one of the largest sugar manufacturers and refiners in India. Also, it made its presence amongst sugar, ethanol, co-generation, trading, and engineering segments.
Generally, the company exists as a subsidiary of Wilmar Sugar Holdings. Significantly, this firm takes its location in Singapore.