Dalmia Bharat Sugar posted a good set of numbers for Q4FY16. The company’s net profit surged 94% at Rs.56 crore (YoY) on a 3.5% jump in total income at Rs.331.5 crore. This jump in net profit was thanks to the reduction in operating costs and a tax write back of Rs.9 crore.

The company’s employee cost dropped 9% and power and fuel bill came down 50% though depreciation was up almost 5 times. EBITDA was up 117% at Rs.143 crore and margins improved from 20.7% to 43.2%.

The turnaround in sugar is what helped this performance. The sugar unit posted an EBIT of Rs.41 crore v/s loss of Rs.13 crore in Q3 and loss of Rs.26 crore in previous Q4. The performance of its power unit slipped with EBIT coming down 67% (QoQ) and down 78% (YoY) at Rs.15 crore.

The company ended Fy16 with a consolidated net revenue of Rs.1129 crore, flat vis-à-vis FY15 which was at Rs.1124 crore. Net profit was at Rs.58 crore v/s Rs.1.5 crore in FY15.

Its equity stands at Rs.16.19 crore and EPS for the year came in at Rs.7.21 (FV of Rs.2/share). Borrowings have risen 18% at Rs.962 crore. Cash is at Rs.46 crore.

Profit booking on the counter, post this performance has pushed the stock into the red today. Intra day low was at Rs,85.30, down almost 9% and it is now at Rs.86 levels, down 8%.