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Friday, Apr 29, 2005

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Corporate Results - Sugar

EID Parry net jumps 60 pc in fourth quarter

Our Bureau

Chennai , April 28

EID Parry (India) Ltd has reported a net profit of Rs 36.54 crore on income of Rs 291.92 crore for the fourth quarter ended March 2005. During the corresponding previous period, the company reported net profit of Rs 22.81 crore on an income of Rs 212.42 crore.

For the whole year, the company has reported a net profit of Rs 104.26 crore (Rs 43.23 crore) on income from operations of Rs 819.13 crore (Rs 641.45 crore). The board has recommended a dividend of Rs 12.50.

According to a release, the company plans to sub-divide each share of Rs 10 face value into five equity shares of Rs 2 each.

The sugar division, which contributes nearly 70 per cent of the company's turnover, has demonstrated strong growth with sugar prices buoyant and higher capacity utilisation. Its profits before tax doubled during the year to Rs 70.12 crore (Rs 34.58 crore).

Parryware, the sanitaryware division, launched a host of new products and colours, which have helped it to sustain its market share and growth.

Its new production facility coming up in Erode district in Tamil Nadu is progressing according to schedule, the release said.

Profits of the bio-products division have trebled to Rs 3.89 crore (Rs 1.32 crore). The NeemAzal neem-based pesticide range is getting wider acceptance, the release said.

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