Sugar manufacturer EID Parry has registered consolidated fourth quarter net profit at Rs 300.38 crore, upby 18.5 per cent over last year. The Murugappa Group company had clocked consolidated net profit at Rs 253.44 crore registered during corresponding quarter of last year.
Net profit for the year ending March 31, 2017 stood at 708.25 crore as against Rs 175.22 crore registered during year ago period, EID Parry said in a BSE filing. Consolidated total income for the January-March 31, 2017 slipped to Rs 3,478.25 crore from Rs 4,507.40 crore.
For the full year ending March 31, 2017, total income marginally fell to Rs 14,825.70 crore from Rs 15,753.21 crore registered during same period of last year. The city-based company said consolidated sugar operations reported an operating profit of Rs 118 crore as compared to Rs 178 crore registered during same period of last year.
Consolidated farm inputs operations reported an operating profit of Rs 267 crore upfrom Rs 195 crore. “The improved performance of the company has been largely on account of better sugar prices, which have been on an upswing since August 2016,” EID Parry (India) Ltd Managing Director V Ramesh said.
In terms of sales, the company has focused on product differentiation and value addition to the customers, he said. The company has focused on reducing the overall debt which has been brought down by about Rs 1,200 crore in the last three years, including Rs 376 crore during 2016-17, he said.