EID Parry (India) reported a strong growth in its performance in the first quarter ended June 30, 2012, with the turnover sharply rising to Rs. 576.46 crore from Rs. 397.13 crore. It has reported a net profit Rs. 22.47 crore against a loss of Rs. 7.18 crore in the same period in the previous year. According to Ravindra S Singhvi, Managing Director, the robust increase in the recovery percentage combined with higher crushing and higher cogeneration and distillery operations had contributed to the overall high performance. The company also capitalised on the export opportunity by exporting 94,337 tonnes of sugar during the quarter.
The sugar division handled 16.44 lakh tonnes of sugarcane against 12.96 lakh tonnes in the year-ago period.
The bio-products division at a consolidated level reduced its loss to Rs. 57 lakh from Rs. 1.06 crore.
The farm inputs division reported a profit before interest and taxation of Rs. 212.20 crore as compared to Rs. 254.53 crore in the corresponding quarter in the previous year.
