Bajaj Hindusthan reports 88% fall in Q2 net profit

India’s largest sugar maker Bajaj Hindusthan has reported 88% decline in its standalone net profit to Rs 8.78 crore for the second quarter ended March 31, 2012. The company had posted a net profit of Rs 72.82 crore in the year-ago period.

The standalone net sales of the company fell by 4% to Rs 1,201.03 crore during the quarter under review from Rs 1,252.49 crore in the same quarter of 2010-11.

Bajaj Hindusthan follows October-September financial year in line with the sugar marketing season. The company has 14 sugar mills with cane crushing capacity of 1.36 lakh tonnes per day.