Financial Daily from THE HINDU group of publications
Tuesday, Apr 25, 2006
Financial Daily from THE HINDU group of publications Tuesday, Apr 25, 2006 |
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Corporate Results
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Sugar Industry & Economy - Sugar E.I.D. Parry net up; to expand milling capacity Our Bureau
Chennai , April 24 E.I.D. Parry (India) Ltd, which recently announced investment plans of over Rs 850 crore, will soon expand its sugarcane milling capacity to 20,000 tonnes a day from 14,500 tonnes now, according to Mr P. Rama Babu, Managing Director, E.I.D. Parry. At a press conference here on Monday, he said the company is also expanding its distillery capacity and cogeneration capacities at its four sugar mills. Work on the sugar mill it acquired in Pondicherry is expected to start with once the legal formalities are completed, he said. According to a press release, the company reported a net profit of Rs 171.50 crore on total income of Rs 2,944 crore for the year ended March 31, 2006. During the corresponding period in the previous year, it the company reported a net profit of Rs 154.71 crore on an income of Rs 2,300.30 crore. The board has recommended a dividend of Rs 4.50 a share of Rs 2, which includes a one-time dividend of Rs 1.80 a share.
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