Home Business EID Parry (India) reports ₹86 crore standalone Q2 net profit

EID Parry (India) reports ₹86 crore standalone Q2 net profit


EID Parry India Ltd.’s standalone net profit for the September quarter rose marginally to ₹86 crore, from ₹85 crore in the year-earlier period, due to “export release order restrictions imposed by the Centre,” the company said. 

Revenue from operations registered a 13% growth at ₹726 crore, the sugar producer said in a statement.

Sugar segment’s performance has been lower compared with the corresponding quarter of the previous year mainly due to export release order restrictions imposed by the government, said Managing Director S. Suresh.

However, this was offset by increase in domestic volumes by about 0.37 lakh tonnes in Q2 against the corresponding quarter coupled with better domestic realisations.

Base fair and remunerative price for sugar season 2023-24 increased to ₹3,150/tonnes for a base recovery of 10.25%, he said.

Nutraceuticals segment registered a loss due to the continuing certification issues in Europe.

The board approved an interim dividend of ₹4 per equity share, which will be payable by November 21.

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