EID Parry gives bitter news of Q1 net loss of Rs 45.77cr

CHENNAI: Sugar major EID Parry (India) gave the bitter news of posting a net loss of Rs 45.77 crore for the first quarter of FY24.

In a regulatory filing, EID Parry said during the first quarter of FY24 it had logged an operational income of Rs 698.41 crore (Q1FY23 Rs 719.07 crore) and a net loss of Rs 45.77 crore (net profit of Rs 13.14 crore).

Barring the company's distillery division that had posted a segmental profit of Rs 23.89 crore, all other divisions -– sugar, cogeneration and nutraceuticals registered a loss Rs 40.76 crore, Rs 32.64 crore and Rs 3.64 crore, respectively.