EID Parry hits 52-week low on disappointing Q4 results

The stock hit 52-week low of Rs 251, down 7%, after the company reported 87% y-o-y drop in consolidated net profit at Rs 405 million in March quarter.

Shares of EID Parry hit 52-week low of Rs 251 per share, down 7% on the BSE, after the company reported a sharp 87% year-on-year (y-o-y) drop in consolidated net profit at Rs 405 million for the quarter ended March 2018 (Q4FY18), on account of poor performance by sugar and nutrient and allied business. It had profit a of Rs 3 billion in year ago quarter.

Income from operations during the quarter grew 0.6% to Rs 33.44 billion against Rs 33.64 billion in the corresponding quarter of previous fiscal.

The sugar segment reported loss before tax and interest