EBIDTA in Q1FY24 stood at Rs 38 crore as against Rs 16 crore in Q1FY23.
The company reported Ethanol sale of 134.65 lakh litres, growth of 8% YoY, due to commencement of production at new distillery at Sidhwalia Unit in FY22.
Cane Crushing in SS 22-23 was higher by 41% at 228 Lac Qtls.
Commenting on the results, Mr. C.S. Nopany, Chairperson, Magadh Sugar & Energy Ltd said: “India's significance as one of the largest sugar producers was highlighted during SS2022/23 when a cap on Indian exports contributed to an upsurge in global sugar prices. Bihar showed promising improvements in crushing and recoveries this season, bouncing back from a challenging performance last year due to adverse weather conditions like unseasonal rains and floods. As we move forward into SS2023/24, it is crucial to adapt to the changing landscape and brace ourselves for reduced exports”