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Operational efficiency, sale of investments and other income have contributed to a jump in the net profit for E.I.D. Parry (India) Ltd during the fourth quarter of 2010-11. However, net profits for the year have dropped steeply over the previous year on high sugarcane prices and low sugar prices, say company officials. The company reported a 53 per cent jump in net profit for the fourth quarter ended March 31, 2001 compared with that of the corresponding period in the previous year.
The net profit was Rs 160.96 crore (Rs 104.80 crore) on net sales of Rs 414.16 crore (Rs 320.31 crore), according to a copy of the standalone, audited financial results. For the year ended March 31, 2011, the company's net profit plummeted to Rs 79.26 crore (Rs 205.28 crore) on net sales of Rs 1,255.69 crore (Rs 1,147.32 crore). At the board meeting on March 19, the company announced an interim dividend of Rs 2 a share of Re 1 for the year. On the NSE the company's Re 1 shares closed at Rs 236.65 against the previous close of Rs 240.90.
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