Murugappa Group company EID Parry India Ltd reported a standalone profit after tax of ₹13 crore for the quarter ended June 30, compared to net loss of ₹33 crore in the year-ago quarter.
Revenue from operations rose 60 per cent to ₹722 crore (₹450 crore). Profit before depreciation, interest and taxes (EBITDA) and before exceptional items stood at ₹11 crore against a loss of ₹4 crore, according to a statement.
“Operating performance of the company during the quarter was significantly better than the corresponding quarter of the previous year on account of better volumes and realisation in sugar, power and distillery. The company crushed around 2.69 lakh tonnes in the June quarter as against 1.46 lakh tonnes in Q1 of FY22. Higher power tariff helped in better profitability of the power segment,” said S Suresh, Managing Director..
On a consolidated basis, profit after tax and non-controlling interest was at ₹276 crore (₹133 crore).
Revenue from operations recorded an increase of 64 per cent at ₹7,146 crore (₹4,354 crore). EBITDA and before exceptional items was at ₹754 crore (₹494 crore) an increase of 53 per cent.
The consolidated sugar operations reported an operating loss of ₹9 crore (a loss of ₹52 crore in Q1 of FY22). Farm Inputs operations reported an operating profit of ₹689 crore (₹481 crore). Nutraceuticals Division registered a loss before interest and tax of ₹3.64 crore (loss of ₹0.43 crore).
The company completed the sale of land and buildings in the Puducherry unit and the plant and machinery in the Pettaivaithalai factory during the first quarter of the fiscal.