E.I.D. Parry Q3 Profit Drops to Rs 216.52 cr

Chennai, Feb 7 (PTI) E.I.D. Parry India Ltd has recorded a consolidated profit after tax for the October-December 2023 quarter at Rs 216.52 crore.

The city-headquartered sugar manufacturer had registered a consolidated PAT at Rs 481.60 crore, in the corresponding quarter of last year.

The consolidated profit after tax for the nine-month period ending December 31, 2023 stood at Rs 1,323.27 crore, as against the Rs 1,540.84 crore a year ago.

The total income during the quarter under review on a consolidated basis slipped to Rs 7,811.32 crore, from Rs 9,855.36 crore registered in the same period of last year.

For the nine-month period ending December 31, 2023, the consolidated total income was recorded at Rs 24,036.90 crore, as compared to Rs 28,417.74 crore registered during the same period of the last fiscal.

Commenting on the performance, company Managing Director S Suresh said, "the operating performance of the sugar segment for the current Q3 has been lower as compared to the Q3 of the previous year on account of reduction in export volume due to restrictions imposed by the government, partially offset by the increase in domestic volume and realisation."

"Cane crushed for the quarter has been slightly lower than the corresponding quarter of the previous year and the sugar recovery has marginally reduced due to prevailing climatic conditions," he said in a statement.