EID Parry Q1 net loss narrows to Rs 30.03 crore

Murugappa Group company EID Parry today reported a consolidated net loss of Rs 30.03 crore for the first quarter ending June 30, 2014.
The Chennai-based company had reported a consolidated net loss of Rs 103.08 crore during the corresponding period of the previous year, a company statement said.
For the financial year ending March 31, 2014, the consolidated net profits stood at Rs 218.61 crore.
Total income from operations for the first quarter ending June 30, 2014 rose to Rs 2,572.99 crore from Rs 2,358.13 crore registered during the same period of the previous year.
For the financial year ending March 31, 2014, the total income from operations was Rs 12,114.14 crore, it said.

Profits before depreciation, interest and taxes and before exceptional item for the quarter ending June 30, 2014 was Rs 167 crore, up 68 per cent over Rs 99 crore in previous year.

Consolidated sugar operations reported a loss before interest and tax of Rs 5 crore as against Rs 64 crore during the corresponding quarter of the previous year.
Farm input operations reported a profit before interest and tax of Rs 112 crore for the quarter ending June 30, 2014 as against Rs 101 crore registered during the same period of the previous year.
The company's bio-products division registered a loss before interest and tax of Rs 5 crore for the quarter ending June 30, 2014 from Rs 2 crore registered during the corresponding quarter of the previous year.

The Board of Directors at its meeting approved a scheme for amalgamating Parry Phytoremedies Pvt Ltd, a wholly-subsidiary with the company effective April 1, 2014, subject to statutory and regulatory approvals.