The consolidated turnover for the quarter ended 30th June, 2010 was Rs18699.7mn. The Profit After Tax for the quarter before Minority Interest and Share of Associates, stood at Rs485.9mn (Rs764.1mn crore). The Profit After Tax for the quarter after Minority Interest and Share of Associates was Rs 72.2mn (Rs572.5mn).
Sugar
During the quarter, 6.11 lakh tons of cane was crushed as compared to 7.28 lakh tonnes in the corresponding period of 2009-10.
The Power exported was 1264 lakh units to the Grid compared to 549 lakh units for the corresponding period of 2009-10.
The transactions relating to imported sugar and related valuation of inventory has resulted in a negative impact of Rs. 68 Crore, during the quarter. This has adversely affected the profitability of the sugar business.
Thus Sugar business reported a loss of Rs 620.1mn for the quarter. (Profit of Rs431.9mn).
Bio-products
The Bio-products division reported a loss of Rs.10.1mn for the quarter (Rs9.9mn).
Farm Inputs
During the quarter, Farm Inputs division registered a gross income from operations of Rs15528.2mn as against Rs15992.8mn in the corresponding quarter of the previous year.
The Farm Inputs division reported a profit of Rs.1961.7mn for the quarter as compared with Rs. 937.4mn in the corresponding quarter of the year 2009-10.
Acquisitions
The company entered into a Share Purchase Agreement with GMR Holdings Private Limited on 25th April 2010 to acquire a majority shareholding in GMR Industries Limited. Pursuant to Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 1997, the Company has made an open offer to the shareholders of GMR Industries Limited which will close on 3rd August 2010.