Sugar-refiner Shree Renuka Sugars (SRSL) has informed that there has been an impressive two fold net profit rise in the June quarter of the ongoing financial year. But the company is looking forward to post superior net profit figure in the upcoming quarter.

As per the company officials, the company has got benefited from its overseas acquisitions in the reviewed quarter and it is expected to continue that performance in the coming quarter as well.

The overseas acquisitions of the firm have helped to adjust its deteriorating performance of its domestic business. Even it has been predicted that the momentum will help the firm in next two quarters.

Meanwhile, there has impact of declined in sugar price in the market. The domestic sugar industry is facing the high pressure of the sliding price of sugar in India. Sugar prices have gone down significantly in the June quarter of the current fiscal year against the January quarter of the year.

But SRSL is the only company to register profit during this period and its acquisitions of its Brazilian assets has helped by earnings of the firm.