The Board of Directors of Avadh Sugar Energy Limited (ASEL)
(BSE: 540649 / NSE: AVADHSUGAR) at its meeting held on 7 th November 2022 took on record the audited Financial Results for the Quarter and Half Year Ended 30 to September 2022.
- Total Income stood at Rs. 594 crores as against Rs.621 crores in Q2 FY 22
- Domestic Average Sugar Realisation was at Rs. 3496 against Rs. 3418 per Qty in Q2FY22
- Profitability was impacted due to the increased cost of sugar produced in Sugar Season 2021-22, owing to increase in sugarcane prices, increase in levy quota of Molasses, and revision of wages of workmen with retrospective effects.
Commenting on the results, Mr. C.S. Nopany, Co-Chairperson, of Avadh Sugar ;Energy Ltd, said:
“The Sugar Industry, encouraged by the policies of the Government of India, continues its role as one of the larger employers in the country and simultaneously provides solutions to the energy sector in India.