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| Murugappa reports Rs 1,058 cr profit for last fiscal |
| Press Trust of India / Chennai May 05, 2009, 19:22 IST |
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The Murugappa Group of Industries today reported a profit of Rs 1,058 crore in the last fiscal.
The group Vice President A Vellayan, while releasing the financial results, told reporters that it had crossed the Rs 15,000 crore mark in turnover, by registering Rs 15,646 crore in 2008-09, against Rs 9,582 crore in the previous year.
Global meltdown had affected the group only to a certain extent as it had diversified its operations into several sectors, he said.
The group's bluechip company, EID Parry reported a sale of Rs 782 crore against Rs 212 crore in the previous year, he said adding this was due to good market prices for sugar.
The company's mega sugar plant with a capacity of six lakh tonnes at Kakinada in Andhra Pradesh would be commissioned next month and most of the production would be meant for exports.
The plant is located in the special export promotion zone, developed by the group on a 250 acre site. After allocating 50 acres for the plant, the group would allot land for the exporters of food processing industry in the zone, he added.
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