Triveni Engineering Reports Q2 Loss, Sugar & Alcohol Business Hit

Mumbai, Nov 5 (PTI) Integrated sugar and ethanol manufacturer Triveni Engineering and Industries on Tuesday reported a consolidated loss of Rs 22.4 crore during the September quarter, due to subdued profitability in sugar and alcohol business.

The company had posted a profit after tax (PAT) of Rs 29.1 crore in the year-ago period, Triveni Engineering and Industries said in a statement.

Revenue from operations of the company grew 8.1 per cent during the second quarter of the current fiscal year to Rs 1,748.3 crore compared to Rs 1,617.4 crore a year earlier.

Triveni Engineering and Industries Chairman and Managing Director Dhruv M Sawhney said, "Overall profitability of the company during the half year ended September 30, 2024 was subdued, impacted by lower margins in the alcohol business and losses of new subsidiary SSEL, which was recently acquired.

"For the sugar season, the profitability in the first half of the financial year remains muted due to spending of fixed expenses during the off-season period, which was much longer during the current period."

However, engineering businesses performed well both in terms of profitability and order booking, resulting in a combined closing order book of Rs 2,070.9 crore, an all-time high for the company, he said.

"We estimate gross sugar production for sugar season 2024-25 for the country at 34 million tonnes as compared to 34.3 million tonnes for 2023-24," Sawhney noted.