EID Parry (India) drops after reporting weak Q1 results

EID Parry (India) dropped 2.49% to Rs 144.75 at 9:45 IST on BSE after the company reported consolidated net loss of Rs 192.79 crore in Q1 June 2015, higher than net loss of Rs 43.80 crore in Q1 June 2014.

The result was announced after market hours yesterday, 4 August 2015.

Meanwhile, the S&P BSE Sensex was up 200.65 points or 0.75% at 28,281.32.

On BSE, so far 14,801 shares were traded in the counter as against average daily volume of 40,349 shares in the past one quarter.

The stock hit a high of Rs 148.45 and a low of Rs 141.60 so far during the day. The stock had hit a 52-week high of Rs 247.95 on 13 November 2014. The stock had hit a 52-week low of Rs 139.40 on 29 June 2015.

The stock had outperformed the market over the past one month till 4 August 2015, rising 2.31% compared with Sensex's 0.07% decline. The scrip had however underperformed the market in past one quarter, falling 12.5% as against Sensex's 2.11% gain.

The mid-cap company has equity capital of Rs 17.58 crore. Face value per share is Re 1.

EID Parry (India)'s total income rose 8.77% to Rs 2826.69 crore in Q1 June 2015 over Q1 June 2014. The consolidated sugar operations reported a loss before interest and tax of Rs 144 crore in Q1 June 2015 compared to profit before interest and tax of Rs 5 crore in Q1 June 2014. The consolidated farm input operations reported a profit before interest and tax of Rs 82 crore in Q1 June 2015 compared to profit before interest and tax of Rs 112 crore in Q1 June 2014. Bio products division reported a profit before interest and tax of Rs 4 crore in Q1 June 2015 compared to loss before interest and tax of Rs 5 crore in Q1 June 2014.

EID Parry (India) is part of the Tamil Nadu-based Murugappa Group and the largest sugar producer in South India and is one of the top five sugar producers in the country.

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