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CHENNAI: EID Parry (India) Ltd has reported a net profit of Rs 17.8 crore for the third quarter of the current financial year, compared with Rs 1.67 crore in the same period last year — a nearly 11-fold increase.

For the nine-month period ended December 31, 2004, the company's net profit amounted to Rs 67.72 crore, against Rs 20.42 crore in the corresponding period of last year.

Turnover for the third quarter was Rs 177.02 crore against Rs 132.31 crore previously.

In a press release, the company has hinted that it might import raw sugar and refine it in India for domestic sales. It has said that good prices in the domestic market contributed to the growth in turnover.

The sanitaryware division has grown 20 per cent. An expansion programme that was completed during the quarter saw the capacity rise to 34,500 tonnes a year from 29,800 tonnes. Parryware has also introduced a series of new colours "keeping in line with consumers' expectations''.

The bio-products division turned around and achieved a turnover of Rs 6.96 crore. The Tamil Nadu Government has placed an order for supply of 70,000 litres of Neemazal formulations, the release said.

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EID Parry profit zooms

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