The net profit of
According to the company's unaudited financial results for the first quarter, the sugar mill registered a net profit of
During the period under review, the company registered a turnover of
As per the company's unaudited condensed financial information for the first quarter, the cost of sales clocked in at
The sugar mill made a gross profit of
SHJS states that the main reason for the profit was an increase in the price of sugar and molasses.
During the said period, the financial cost of SHJS was
PERFORMANCE
As per the company director's report, the crushing season 2019-20 started on
According to the data produced above, there was an increase in production with high crushing of sugarcane due to the early start of crushing season as compared to last year.
Further, recovery percentages of sugar and molasses were lower than last year due to weather conditions.
The Punjab government has fixed support price of sugarcane for this season at
Initial estimates of availability of sugarcane were less than that of last year due to lesser cultivation of crop and poor rainfall during the year 2019 but the recent increase in support price will motivate growers towards this cash crop.
Sugar prices during the three-month period were better than the corresponding period of last year owing to lesser production overall in the country.
Further, molasses prices during the period under review were also better as compared to the corresponding period due to low production and non-availability of molasses stocks in the market.
© Pakistan Press International, source