Alteo’s Agro-Industrial Sector Contributes Rs 2.2 Billion to Revenue

Alteo’s agro-industrial sector played a pivotal role in its revenue, contributing Rs 2.2 billion out of a total of Rs 4.5 billion.

While Alteo’s overall revenue saw a slight dip from Rs 4.5 billion in the fiscal year ending June 2022 to Rs 4.4 billion in June 2023, the agro-industrial segment performed well, generating Rs 2.2 billion in revenue.

This was driven by higher sugar prices, although production saw a decrease.

The group’s financial report also noted that increased coal prices bolstered overall revenue.

On the other hand, real estate earnings declined due to the completion of major residential projects, impacting the 2022 fiscal year.

Despite this, there is ongoing strong demand for the group’s real estate offerings.

Both the agri-food and energy sectors are expected to see improved margins in the near future.

Additionally, the group anticipates positive effects on its real estate division from the final phases of Anahita’s sale scheduled for the next 12 months.