EID Parry registers 340 percent net loss in Q1

Chennai, Aug 4 (IANS) Leading sugar producer EID Parry reported a whopping 340 percent net loss of Rs.192.79 crore for the first quarter of 2015-16 as against Rs.43.80 crore in the same period last fiscal, the company said in a regulatory filing on Tuesday.

However, total income from operations for the Murugappa Group company rose by nine percent to Rs.2,805.61 crore for the period from Rs.2,572.99 crore last year.

Total expenses also went up to Rs.2,885.66 crore from Rs.2,491.70 crore.

The Chennai-based company also has interests in bio-pesticides and nutraceuticals. AA

EID Parry operates nine sugar plants in south India – four in Tamil Nadu, three in Karnataka, and one each in in Puducherry and Andhra Pradesh.

It has a total sugar crushing capacity of 34,750 TCD and cogeneration capacity of 146 MW.

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