Ponni Sugars (Erode) Ltd has reported net sales of Rs 50.6 crore, showing a growth of 24.2%. PAT was at Rs 6.6 crore against Rs 4.5 crore, showing an increase of 43% over the corresponding period in the last fiscal. This was achieved due to a one time exceptional income of 14.1 crore. Operating margin was down to - 6.7% as against 20%. Raw material costs as a percentage of sales increased from 59.7% to 94.7% YOY due to processing of high cost raw sugar. Total sales for Q1FY11 were at ~20,000 tonnes with average sales realizations of ~Rs 25 per Kg.