Bengaluru, July 29 -- Most ethanol companies live and die by the sugarcane season. This one just spent the past year trying to escape that dependence, and the June quarter is the first real look at whether that bet is paying off.

With a market capitalization of around Rs.3,675 crore, shares of TruAlt Bioenergy Limited were trading near Rs.454 apiece, within a 52-week range of Rs.310 to Rs.549, and a P/E of approximately 23x.The stock jumped 8 percent after the announcement.

A Strong First Quarter as a Listed Company

Consolidated total income for the quarter came in at Rs.641.41 crore, up 96% from Rs.326.63 crore a year earlier. EBITDA more than tripled to Rs.132.76 crore from Rs.41.54 crore, a jump of 220%, with the EBITDA margin expan...