New Delhi, Feb 8 (PTI) Sukhjit Starch and Chemicals Ltd has reported 73 per cent rise in its profit at Rs 14.52 crore for the third quarter of this fiscal.
Its net profit stood at Rs 8.4 crore in the year-ago period, the company said in a regulatory filing.
The total income increased to Rs 198.28 crore in the October-December quarter of this fiscal from Rs 191.52 crore in the corresponding period of the previous year.
The board, in its meeting held on February 6, recommended the issue of bonus shares to the shareholders of the company in proportion of 1:1, which is one bonus share for every one existing equity share held by them.
“2019 is a very special year for the company as in this 75th year of its corporate existence. The company has decided to further share the prosperity of company’s growth with its shareholders,” Sukhjit Starch & Chemicals Managing Director I K Sardana said.
The company has manufacturing facilities at Phagwara (Punjab), Nizamabad (Telangana), Malda (West Bengal), Gurplah (Himachal Pradesh) and a new manufacturing facility is being set up at Rehana Jattan (Punjab) with a total capacity of 1,500 tonnes per day.
The upcoming 600 tonnes per day maize processing unit in Punjab is likely to be commissioned by the second quarter of financial year 2019-20, the company said in a statement.
It is planning another expansion next year, which may take the total capacity to 2,500 tonnes per day by 2020-21.
Shares of the company were trading at Rs 506.90, down 1.27 per cent on BSE.
This is published unedited from the PTI feed.