E.I.D.-Parry hit by sugarcane shortage

Our Bureau Chennai | Updated on October 28, 2013 Published on October 28, 2013

Shortage of sugarcane in some areas and low sugar recovery have impacted the performance of E.I.D.-Parry (India) Ltd’s standalone net profit for the second quarter.

For the quarter ended September 30, 2013, the company reported a net profit of Rs 25.95 crore on a total income of Rs 455.83 crore.

The current year figures include those of the merged units of Parrys Sugar Industries Ltd, namely Haliyal and Sankili, and as such are not comparable with the previous year figures, said the company in a press release.

During the corresponding period in the previous year, the company reported a net profit of Rs 325.80 crore, which includes an exceptional item of Rs 265.73 crore representing the fully paid bonus debentures from a subsidiary Coromandel International. The income in that quarter was Rs 503.34 crore.

However, good monsoon during the year will augur a better cane availability for the next season.

Published on October 28, 2013
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