EID Parry (India) Ltd. reported third-quarter standalone net profit shrank 95% to ₹18 crore, from ₹339 crore a year earlier, after a one-time loss from the sale of a unit.
Revenue from operations rose 56% to ₹686 crore. The results included an exceptional item of ₹13.73 crore as loss on sale of plant and equipment at the Puducherry factory of the holding company, EID Parry said in a filing.
“The company performed better than the corresponding quarter… on account of better realisation and higher volume of exports and alcohol sales,” said MD S. Suresh.
Firming up of global sugar prices helped in higher exports. The debt reduction measures had helped in reduction of finance cost. Cane crush for the company is expected to be better than the previous sugar year, he said.
The nutraceuticals division incurred a loss of ₹85 lakh against a profit of ₹1.67 crore due to reduced production on account of inclement weather.
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