Financial Daily from THE HINDU group of publications
Saturday, Oct 18, 2003
Financial Daily from THE HINDU group of publications Saturday, Oct 18, 2003 |
|
|
|
|
|
Corporate
-
Financial Performance Corporate Results - Pesticides EID Parry Q2 net rises Our Bureau
CHENNAI: EID Parry (India) Ltd, part of the Murugappa group, has posted a profit after tax of Rs 10.20 crore on sales income of Rs 457.43 crore for the quarter ended September 30 against a net profit of Rs 8.77 crore on sales of Rs 424.03 crore for the same period last year. For the half-year ended September 30, the company's net profit stood at Rs 11.95 crore on sales of Rs 636.69 crore compared to a net profit of Rs 11.15 crore on sales of Rs 723.13 crore for the same period last year. According to a company release, due to effective implementation of the release mechanism, domestic sugar prices improved during the quarter under review to Rs 12,800 per tonne from Rs 11,000 per tonne in the first quarter of the year. The Centre increased the price of levy sugar for the 2002-03 season by Rs 545 per tonne over the previous season. Sugar export volumes came down in the first half due to low international prices. The release said that insufficient rainfall during the South-West monsoon in most parts of markets in Karnataka, Tamil Nadu and parts of Andhra Pradesh resulted in lower fertiliser sales volume in the first half of the year. Pesticide sales, however, at Rs 82.83 crore improved by 16 per cent over the same period last year. According to the release, interest was almost halved to Rs 9.49 crore during the half year from 18.93 crore for the same period last year as the company tapped low-cost working capital finance in the form of foreign currency loans, retired high-cost debts and availed itself of the interest credit benefit extended by the Government for holding buffer stock of sugar. For the quarter under review, interest cost was Rs 5.07 crore against Rs 7.55 crore for the same period last year.
Article E-Mail :: Comment :: Syndication
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | The Sportstar | Frontline | The Hindu eBooks | Home |
Copyright © 2003, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|