Praj Industries pushes ahead with bioethanol project as it announces Q4 and FY2017 results

India-based bioethanol producer Praj Industries has announced its fourth quarter and full-year 2017 results.

Income from operations stood at Rs. 311.7 crore (€4.31m) compared to Rs. 345.9 crore the year before for the quarter.

Q4 profit before tax stood at Rs. 36.8 crore for the period compared to Rs. 45.8 crore the year before.

Elsewhere, for the full-year, income from operations stood at Rs. 955.2 crore, compared to 1063.8 crore the year before. Profit before tax was Rs. 67.5 crore for the period, compared to Rs. 105.4 crore the year before.

Praj recently opened its second-generation ethanol technology demonstration plant and India’s first biorefinery located near Pune in early May.

Speaking about the company’s financial result, Pramod Chaudhari, executive chairman of Praj Industries, said:  “We ended the fiscal 2017 on a steady footing despite the external flux in operating environment. Fiscal 2017 is an inflection point for Praj. We unveiled India’s first integrated 2^nd generation smart biorefinery for biofuels and chemicals, underscoring Praj’s technology leadership in the bioenergy space. We are confident that this will lead us to growth given that sustainable fuels are (the) need of the hour.”

This story was written by Liz Gyekye, editor of Biofuels International.