EID Parry's Q3 net dips 70% to Rs 63 cr

Sugar major EID Parry today reported a net profit of Rs 63.35 crore for the quarter ended on December 31, 2010, a near 70 per cent decline as compared to the corresponding period of previous year.

The company had reported a net profit of Rs 171.17 crore for the quarter ended on December 31, 2009, EID Parry said in a filing to the Bombay Stock Exchange (BSE).

The company's total income in the quarter under consideration rose 16.1 per cent to Rs 2,474.85 crore as against Rs 2,131.64 crore in the same period previous year.

EID Parry is engaged in manufacturing and marketing of sugar, alcohol, bio-products and nutraceuticals.

Parry has five sugar plants with a combined crushing capacity of 15,800 metric tonnes of cane per day.

The shares of the company today closed at Rs 210.70, down 4.57 per cent, on the BSE.