The company has announced that it will sell the stake in the joint venture company, Parryware Roca which was set up in May 2006 to its Spanish partner.
The company plans to use this corpus to expand its core business-sugar, organically and inorganically.
During the quarter, the company reported a profit of Rs 37.9 crore as compared to a loss of Rs 10.72 crore in the same quarter in the previous year while net sales surged 2.7 times to Rs 195.8 crore. For FY08, the company reported a turnover of Rs 651 crore and a loss of Rs 16.58 crore.
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