Shree Renuka Sugars registers loss of Rs 19 crore in Q3

Shree Renuka Sugars Ltd (SRSL), India's largest sugar refiner, on Friday posted a net loss of Rs 19.39 crore in the third quarter that ended on December 31, mainly due to lower income.

The company had clocked a net profit of Rs 1.75 crore for the corresponding quarter last fiscal year (2012-13).

The company's performance took a beating as its income from operations fell 35.5 per cent to Rs 119.11 crore in the quarter ended December, from Rs 184.67 crore in Q3 of FY13.

Renuka Sugars operates 11 mills globally, with a total crushing capacity of 20.7 million tonnes per annum (MTPA) or 94,520 tonnes crushed per day (TCD).

The company operates seven sugar mills in India with a total crushing capacity of 7.1 MTPA, or 35,000 TCD, and two port-based sugar refineries with expected capacity of 1.7 MTPA.

Shares in the company, on Friday, ended at Rs 19.75 apiece on the BSE, down 1.99 per cent from the previous close.