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E.I.D Parry India posts net loss of ₹46 crore on reduced sales volume

E.I.D. Parry India Ltd.’s reported a loss of ₹46 crore the for June quarter due to reduction in sales volume.

The largest sugar major had posted a standalone net profit of ₹13 crore in the comparable period, it said in a regulatory filing.

Revenue from operations was lower by 3% to ₹698 crore. Input cost jumped to ₹200 crore from ₹91 crore.

On a consolidated basis, sugar units reported an operating loss of ₹129 crore (-₹9 crore), farm inputs posted operating profit of ₹727 crore (₹689 crore) and nutraceuticals division a loss before interest and tax of ₹14 crore (-₹4 crore).

Commenting on the results, MD, S. Suresh said that the company managed to crush higher cane volumes of around 4.01 LMT against 2.69 LMT.

The distillery segment performance was better owing to higher realisations and increased volumes attributable to the new 120 KLPD dual feed distillery facility in Sankili. Further, the company commenced grain-based operations in Sankili distillery.

The standalone nutraceuticals segment has registered a loss during the current quarter on account of reduced sales due to the existing certification issues in Europe, he said.

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