EID Parry Q1 net doubles at Rs 95 cr

Agri-inputs and sugar producer EID Parry today reported a 97% increase in its consolidated net profit to Rs 95.50 crore for the quarter ended June 30, 2011.

The company had reported a net profit of Rs 48.59 crore in the year-ago period, it said in a filing to the Bombay Stock Exchange (BSE).

The company's net sales in the first quarter rose by 33% to Rs 2,488.93 crore as compared to Rs 1,869.97 crore in the year-ago period.

The total expenditure of the company rose by 29% to Rs 2,287.83 crore against Rs 1,772.55 crore in the period under review.

EID Parry, a part of the $3.8 billion Murugappa Group, has five sugar plants with a combined cane crushing capacity of 15,800 tonnes per day.

It is also engaged in marketing of sugar, alcohol, bio-products and nutraceuticals.

Shares of the company today closed at Rs 266.65, down 0.63% from its previous close on the BSE.