E.I.D Parry (India) posts profit of ₹13 cr. on better volumes
The Hindu
Revenue from operations rose 60% to ₹722 crore
EID Parry (India) Ltd. has posted a standalone net profit of ₹13 crore for the first quarter against a loss of ₹33 crore in the year-earlier period on better volumes and realisation in sugar, power and distillery.
Revenue from operations rose 60% to ₹722 crore. Total expenses jumped from ₹506 crore to ₹766 crore, it said in a regulatory filing.
The company crushed about 2.69 lakh tonnes against 1.46 lakh tonnes of sugarcane. Higher power tariff helped in better profitability of the power segment, said S. Suresh, MD.
The consolidated sugar operations reported narrowing of operating loss to ₹9 crore against a loss ₹52 crore. Consolidated farm inputs posted an operating profit of ₹689 crore (₹481 crore).
Nutraceuticals division registered a loss before interest and tax of ₹3.64 crore (loss of ₹43 lakh), mainly due to the increase in marketing expenses due to B2C launch in the U.S., he said.
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