Diversified Triveni Engineering & Industries Ltd. has informed that it has posted a quarterly loss in the first quarter of the fiscal 2010-11 due to the loss in its sugar operations.

Triveni Engineering & Industries Ltd. has declared its first quarter financial results for the fiscal. The company has reported a net loss of Rs 142.3 million for this quarter.

The net profit of the firm was reported to be Rs 398.1 million for the same quarter last year.

However, there has been a hike in the net sales of the firm as well. As per the report, the company has posted net sales of Rs 5.9 billion which is 14% high than that of the figures of the same quarter last year.

Executive director of the firm, Mr. Nikhil Sawhney has said that lower sugar prices and inventory revaluation was the main reason behind this loss.

There is a huge loss in its sugar business in this period of time. Apart from that its engineering division's report is not so impressive. The growth in this segment was mare 12%.