K K Birla group company Oudh Sugar Mills Ltd. (OSML) has reported a net profit of Rs. 19.17 crore in the year ended June 30, 2009, compared to the net loss of Rs. 4.51 crore in the previous year.
The company reported a total income of Rs. 559.34 crore in 2008-09 against Rs. 341.82 crore in the previous year.
The company’s return to profits after two years has been attributed to robust growth due to sustained demand and operational efficiencies.
Chairman-cum-Managing Director of OSML C. S. Nopany said that with the support of the government, its initiative to encourage duty-free import and plans to introduce a bonus on statutory minimum support price, the sugar industry was upbeat about its performance this year.
The OSML board recommended a dividend of Rs. 1.50 per equity share.
OSML has four sugar units with a combined crushing capacity of 28,700 tonnes per crushing day, along with a 60 MW co-generation facility and two distilleries.
It also has a fruit and vegetable processing unit near Allahabad.
