EID Parry Q1 net down by 36.4 pc

NEW DELHI: Sugar manufacturer EID Parry India today reported a profit after tax of Rs 48.9 crore for the quarter ended on June 30, 2010, a decline of 36.4 per cent as compared to corresponding quarter last fiscal.

The company had reported a net profit of Rs 76.41 crore for the quarter ended on June 30,2010, EID Parry said in a filing to Bombay Stock Exchange.

During the quarter under consideration, the total consolidated income of the company rose to Rs 1,869.97 crore as against Rs 1,790.9 crore in the similar period an year ago.

The company said during the 1st quarter of the current fiscal, 6.11 lakh tonnes of sugarcance was crushed as compared to 7.28 lakh tonnes in 2009-10.

"The transaction relating to imported sugar and related valuation of inventory has resulted in a negative impact of Rs 68 crore, during the quarter," the company said.

EID Parry is a leading sugar manufacturer in the country with interests in Bio-Pesticides and Nutraceuticals.