Eid Parry Turnover At Record High Of Rs 1115 Cr In 99-00

EID Parry (India) Ltd, part of the city-based Murugappa group, has achieved a turnover of Rs 1,115 crore for the year ended March 31, 2000, an all-time high for the company. Last year, the turnover was Rs 979 crore. Net profit for the year under review was up at Rs 54 crore against Rs 47 crore achieved during the previous financial year, up by 14 per cent. Profit before tax also rose to Rs 60 crore as compared to Rs 51 crore achieved during financial year 1998-99. Owing to an increased interim dividend of 70 per cent already declared by the company, the board has not recommended a final dividend. Interest charges for the year declined to Rs 50 crore as against Rs 55 crore the previous year, reflecting a reduction in the cost of borrowing. Tthis was achieved by replacing high cost term loans and debentures with commercial paper. During the year under review, the company registered the highest ever production and sale of Paramfos. Sale of ttraded products relating to the farm inputs division also registered an impressive growth.