Bajaj Hindusthan has reported a loss of Rs 44.43 crore for the quarter ended December 31, mainly due to poor sales and higher interest outgo. The company had posted a net profit of Rs 57.86 crore in the year-ago period. It follows October-September as its fiscal, in line with the sugar marketing year.
The total income fell 58% to Rs 617.80 crore during the first quarter of 2011-12, as against Rs 1,483.01 crore in Q1 last fiscal. Net sales dipped to Rs 556.62 crore from Rs 1,475.66 crore in the reviewed period.
The sugar segment made a significant loss of Rs 84.55 crore in the quarter, as against a profit of Rs 118.88 crore in the corresponding period last year. Besides, the company paid Rs 113.11 crore as interest in the first quarter of the 2011-12 fiscal, as against Rs 106.99 crore in the year-ago period.