EID Parry India Ltd. reported a 64% drop in its standalone net revenue for the March quarter 12 months on 12 months to ₹83 crore, because it incurred a loss on funding in subsidiaries and joint ventures of ₹155 crore.
Revenue from operations declined by 12% to ₹807 crore, the sugar main of the Murugappa Group stated in a regulatory submitting.
The sugar operations reported an working revenue of ₹176 crore (₹163 crore) and the nutraceuticals division an working lack of ₹1.51 crore towards a revenue of ₹69 lakh throughout the corresponding quarter final 12 months.
Overall cane crush elevated throughout the 12 months to 51.8 lakh tonnes (50.2 lakh tonnes). Overall sugar gross sales soared to 5.19 lakh tonnes from 4.95 lakh tonnes.
“The operating profit of the standalone sugar division was better than the previous year on account of better sales realisation and increased domestic sales volume. There was cost pressure on account of higher energy prices partly offset by increased realisation from power export,” stated MD S. Suresh. “Despite increase in interest rates, our effective cash management and cash generated from operations resulted in reduced finance cost of ₹36 crore from ₹46 crore.”
“The company continues to focus and deliver on sweating of assets and expansion in core areas. The Company had completed sale process of Pettavaithalai plant and commenced 120 KLPD ethanol facility in Sankili from sugar syrup. Also 165 KLPD expansion in Haliyal and Nellikuppam is under progress,” he stated.
The board declared second interim dividend of ₹4 per share.
