BCL Industries reported a 64% increase in net profit for the September quarter, reaching Rs 21 crore, a significant turnaround from a loss of Rs 12.83 crore in the same period last year. Total income rose 44% to Rs 533.84 crore. To diversify its operations, the company is investing Rs 350 crore in a biogas plant and a distillery in Haryana.
BCL Industries shares gained traction following a 17% increase in their ethanol supply allocation to Oil Marketing Companies (OMCs) for the current fiscal year. The new quota stands at 18.25 crore litres, up from 16.94 crore litres, which is anticipated to boost the company's revenue. The stock was trading at Rs 56.93 per share, reflecting a slight decline of 0.73%, despite a 3.61% rise earlier in October.
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