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Saturday, April 20, 2024

Share Market News: Davangere Sugar Reports Strong Q3 Results; Shares Rise Approximately 8% | Details Here

<p><strong>News on the stock market:</strong> On Monday, February 19, shares of Davangere Sugar Company Limited increased by almost 8%. With a 4.95 percent opening gain, the counter rose 7.96 percent to reach an intraday high of Rs. 107.69. For the last four days, the stock has increased in value. The firm announced excellent Q3 FY24 performance, which coincided with the price increase.</p>
<p><img decoding=”async” class=”alignnone wp-image-420585″ src=”https://www.theindiaprint.com/wp-content/uploads/2024/02/theindiaprint.com-share-market-news-davangere-sugar-reports-strong-q3-results-shares-rise-approximat.jpg” alt=”theindiaprint.com share market news davangere sugar reports strong q3 results shares rise” width=”1358″ height=”916″ title=”Share Market News: Davangere Sugar Reports Strong Q3 Results; Shares Rise Approximately 8% | Details Here 3″ srcset=”https://www.theindiaprint.com/wp-content/uploads/2024/02/theindiaprint.com-share-market-news-davangere-sugar-reports-strong-q3-results-shares-rise-approximat.jpg 700w, https://www.theindiaprint.com/wp-content/uploads/2024/02/theindiaprint.com-share-market-news-davangere-sugar-reports-strong-q3-results-shares-rise-approximat-150×101.jpg 150w” sizes=”(max-width: 1358px) 100vw, 1358px” /></p>
<p>Leading provider in sugar, sustainable power, and ethanol solutions, Davangere Sugar Company Ltd. had 190 percent sequential growth in total revenue, rising from ₹26.92 crores in Q2 FY24 to ₹78.31 crores in Q3 FY24.</p>
<p>At the same time, the net profit increased by 478%, rising from ₹0.97 crores to ₹5.61 crores.</p>
<p>Furthermore, for a ₹ 3 crore investment, the firm board authorized the commissioning of the CO2 Plant to convert the fermentation of waste molasses into liquefied carbon dioxide and dry ice.</p>
<p>Davangere Sugar Company Limited was established in 1970 and has undergone changes throughout the years, playing a significant role in the growth of Kukkuwada, Karnataka. In keeping with its dedication to innovation, the firm has added Sustainable Power and Ethanol Solutions to its list of products. Offering a wide variety of superior items, its offers showcase a well-balanced combination of heritage and contemporary.</p>
<p>Davangere Sugar Factory distinguishes itself as a leader in sustainability with its refinery and large-scale ethanol production facilities. Apart from adhering to the ideals of zero waste & green energy, the organization also makes a substantial effort to support local livelihoods and provide many job possibilities.</p>
<p>At this time, Davangere Sugar Company Ltd. claims that its large sugar factory can crush 6,000 tons of cane per day (TCD). The company’s sugar facility, which occupies over 2,83,874 square feet, is a testament to its commitment to efficiency. In addition, the construction of five sizable warehouses with the capacity to hold six lakh quintals of sugar highlights the company’s focus on having strong distribution and storage capacities to guarantee a smooth supply chain.</p>

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