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Sunday, Jul 24, 2005

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E.I.D. Parry nets Rs 11.73 cr profit

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CHENNAI: E.I.D. Parry (India) Ltd has reported a net profit of Rs 11.73 crore on a turnover of Rs 177.67 crore for the quarter ended June 30, 2005. During the corresponding period in the previous year, the company reported a net profit of Rs 24.55 crore (including a one-time extraordinary income of Rs 16.46 crore) on a turnover of Rs 153.2 crore.

Net sales of sugar was Rs 113.53 crore (Rs 100.21 crore), Parryware sales Rs 63.14 crore (Rs 48.56 crore) and sales of bio-products Rs 2.64 crore (Rs 2.13 crore).

The sugar division reported a top line growth of 13 per cent compared to the corresponding quarter in the previous year. Sugar prices are expected to firm up in the coming quarters indicating improved realisation from stocks. Its branded sugar, Parry's Pure, is available in more than 1,000 outlets, according to a press release from the company.

The Parryware division saw a 30 per cent growth in top line and the growth wa expected to sustain with the boom in infrastructure, the release said.

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