EID Parry sees profit dip amid ops challenges
Challenges included higher cane costs and no exports.
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CHENNAI: The city-based EID Parry India Ltd reported a consolidated profit of Rs 294.30 crore for Q1 2024, down from last year.
Challenges included higher cane costs and no exports. The total income decreased to Rs 5,680.02 crore for the quarter. Nutraceuticals saw recovery, but overall profits fell. S Suresh, MD, EID Parry, said, ‘’the operating performance of the standalone sugar division was lower during the year as compared to the previous year on account of nil exports, higher cane cost, lower recovery from cane and change in product mix in distellery on account of change in Government policy.’’
The overall cane crush marginally reduced during the year from 51.81 LMT metric tonne to 50.09 LMT and sugar sales reduced from 5.20 LMT (lakh metric tonne) to 4.64 LMT, he said.
