Sugar producer, Bajaj Hindusthan reported a net loss of Rs 14.91 crore for the quarter ended June 30, 2010. Last year, the company reported a net profit of Rs 60.08 crore. A key reason for the net loss was the escalation in total costs, the company said.
Total costs were more than double this year at Rs 707.62 crore from Rs 311.09 crore last year. Income from operations rose 87 per cent to touch Rs 715.66 crore as against Rs 383.64 crore last year.
The stock of Bajaj Hindusthan is trading up 1.80 per cent today since 1 pm after a weak morning session. It began at Rs 116.45 a piece hovering below that mark till 1 pm. It suddenly shot up, however, during lunch time, touching the Rs 118-mark. It is currently hovering at Rs 118.45 a share.
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