Agri Business

EID Parry nets ₹225 crore profit in Q4

BL Chennai Bureau | Updated on: May 17, 2022

The revenue from operations grew by 63 per cent year-on-year to ₹922.31 crore in January-March quarter

Murugappa group firm EID Parry (India) posted a standalone net profit of ₹225.12 crore in the fourth quarter of FY22. The company posted a net profit of ₹168.60 crore for the corresponding quarter in the previous year.

The standalone revenue from operations grew by 63 per cent year-on-year to ₹922.31 crore in January-March quarter of FY22 against ₹564.34 crore during Q4FY21.

For the full FY22, the company's standalone net profit declined by 67 per cent to ₹283.5 crore (₹864.86 crore) as the cost of raw materials consumed jumped 27 per cent to ₹1,736.82 crore (₹1,372.22 crore).

On a segmental basis, revenue from Sugar jumped 69 per cent to ₹694.81 crore (₹411.81 crore) during Q4FY22.

Appointments

The company announced the reappointment of S Suresh as its Managing Director for a period of two years with effect from August 1, 2022, and reappoitment of Muthiah Murugappan as a Whole-Time Director designated as Whole-Time Director & Chief Executive Officer for a term of five years with effect from May 17, 2022.

Published on May 17, 2022
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