Net profit of Thiru Arooran Sugars declined 51.64% to Rs 13.24 crore in the quarter ended March 2017 as against Rs 27.38 crore during the previous quarter ended March 2016. Sales rose 28.29% to Rs 66.35 crore in the quarter ended March 2017 as against Rs 51.72 crore during the previous quarter ended March 2016.

For the full year,net loss reported to Rs 4.78 crore in the year ended March 2017 as against net loss of Rs 20.13 crore during the previous year ended March 2016. Sales rose 13.46% to Rs 230.62 crore in the year ended March 2017 as against Rs 203.26 crore during the previous year ended March 2016.

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Thiru Arooran Sugars will hold a meeting of the Board of Directors of the Company on 27 May 2017, to consider and approve, inter alia, the Audited Financial Results of the Company for the Quarter and Year ended March 31,2017.

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Thiru Arooran Sugars announced that the Credit Rating Agency, ICRA has, vide their letter dated 23 February 2017 (received by the Company on 28 February 2017) upgraded :

i) the long term rating for the Line of Credit for Rs. 339.18 crore (both Fund based and Non Fund based) sanctioned to the Company from (ICRA)D, (pronounced ICRA D) to (ICRA)B+ (pronounced ICRA B plus); and

ii) the short term rating for the aforesaid Line of Credit sanctioned to the Company from (ICRA)D (pronounced ICRA D) to (ICRA)A4 (pronounced ICRA A four).

The revised rating as above has been assigned on 30 January 2017.

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Net Loss of Thiru Arooran Sugars reported to Rs 5.95 crore in the quarter ended December 2016 as against net loss of Rs 10.18 crore during the previous quarter ended December 2015. Sales declined 50.46% to Rs 36.33 crore in the quarter ended December 2016 as against Rs 73.34 crore during the previous quarter ended December 2015.

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