Ugar Sugar posts disappointing numbers for Q3FY18

Ugar Sugar reported its results for the quarter ended December 31, 2017 on Friday.

The company's standalone revenue for the quarter came in at Rs 163.23 crore, registering a decline of 21.4 per cent YoY. This was primarily due to the decline in sales of the sugar segment by 24.2 per cent YoY.

  Its EBITDA for the quarter fell by 67.7 per cent YoY to Rs 12.47 crore, with a corresponding margin contraction of 1093 bps. The EBITDA margin for the quarter stood at 7.6 per cent. This margin contraction was on account of the jump in the cost of materials by 68 per cent YoY.

The PAT for the quarter came in at Rs. 2.73 crore, a decline of 90.2 per cent YoY. This was due to the sharp rise in the effective tax rate from 6 per cent to 28 per cent in Q3FY18.

Ugar Sugar is engaged in the manufacture and sale of sugar, industrial and potable alcohol and generation and distribution of electricity.

Today, the stock opened at Rs 22.35 and touched an intra-day high and low of Rs 23.30 and Rs 21.40, respectively, and finally closed at Rs 22.30 on the BSE.