Triveni Engineering & Industries Ltd. reported unaudited standalone and consolidated earnings results for the third quarter and nine months ended December 31, 2015. For the quarter, on consolidated basis, the group reported net sales of INR 5,095.5 million, profit from operations before other income, finance costs and exceptional items of INR 262.2 million, profit from ordinary activities before tax of INR 84.0 million and net profit after taxes, minority interest and share of loss of associates of INR 141 million or INR 0.55 per diluted share (not annualized) compared to net sales of INR 5,802.9 million, loss from operations before other income, finance costs and exceptional items of INR 340.0 million, loss from ordinary activities before tax of INR 565.8 million and net loss after taxes, minority interest and share of loss of associates of INR 326.8 million or INR 1.27 per diluted share (not annualized) reported in the same period last year. EBITDA was INR 480.9 million compared to INR 109.8 million reported in the same period last year.

For the nine months, the group reported net sales of INR 14,427.4 million, profit from operations before other income, finance costs and exceptional items of INR 101.9 million, loss from ordinary activities before tax of INR 696 million and net loss after taxes, minority interest and share of loss of associates of INR 539.4 million or INR 2.09 per diluted share (not annualized) compared to net sales of INR 16,108.0 million, loss from operations before other income, finance costs and exceptional items of INR 379.4 million, loss from ordinary activities before tax of INR 1,182.0 million and net loss after taxes, minority interest and share of loss of associates of INR 664.6 million or INR 2.58 per diluted share (not annualized) reported in the same period last year. EBITDA was INR 750.8 million compared to INR 319.2 million reported in the same period last year. The improved performance is mainly due to improved sugar operations and with high sugar prices prevailing towards the end of the reporting period, the sugar inventory were accounted at cost without any inventory write-down.

For the quarter, on standalone basis, the company reported net sales of INR 5,116.2 million, profit before tax of INR 115.2 million and profit after tax of INR 115.2 million against net sales of INR 5,817.5 million, loss before tax of INR 565.9 million and loss after tax of INR 382.6 million for the same period a year ago.

For the nine months, on standalone basis, the company reported net sales of INR 14,469.7 million, loss before tax of INR 539.9 million and loss after tax of INR 539.9 million against net sales of INR 16,131.8 million, loss before tax of INR 1,124.6 million and loss after tax of INR 7,773 million for the same period a year ago.