EID Parry posts Rs 103.08 cr loss for Apr-Jun

CHENNAI: Sugar manufacturer EID Parry, part of the Murugappa Group, has reported a consolidated loss at Rs 103.08 crore for the quarter ended June 30, 2013.

The Chennai-based company had reported consolidated net profit at Rs 106.01 crore during the corresponding period of previous year, EID Parry said in a BSE filing.

The consolidated total income of the company for the quarter this year slipped to Rs 2,358.13 crore, from Rs 2,679.77 crore registered during the corresponding period of previous year.

Noting that the overall recovery and yield for the quarter on the sugar division was "below average" due to drought conditions, the company said its sugar operations reported a loss of Rs 63.88 crore as against net profit of Rs 39.54 crore registered during the same period of previous year.

"Cane availability was affected during the quarter due to drought condition in some of the factory areas.", it said.

Shares of the company ended at Rs 129.35 a piece, lower by 2.49 per cent over previous close in BSE.