EID Parry reports loss

EID Parry reports Q1 net loss on cane scarcity

EID Parry India Ltd., a part of the ₹30,000 crore Murugappa Group, reported a net loss of ₹18 crore in the quarter ended June 30, against a ₹25 crore net profit in the year-earlier period due to an 89% drop in cane availability in Tamil Nadu on account of drought. Standalone turnover stood at ₹509 crore against ₹581 crore. Sugar operations recorded an operating loss of ₹22 crore against a profit of ₹57 crore. The farm inputs division reported an operating profit of ₹183 crore against ₹92 crore in the year-earlier period.