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Murugappa group firm EID Parry (India) today reported a fall of 63% in consolidated net profit at Rs 68.21 crore for the second quarter ended September 30 due to losses in its sugar division.
The company had clocked a net profit of Rs 182.97 crore in the same period last fiscal.
Total income during the July-September period of the current fiscal fell to Rs 2,476.74 crore from Rs 3,253.73 crore in the same period last fiscal, the company said in a BSE filing.
Profits of the company were down as sugar division turned into red and reported net loss of Rs 48.66 crore during the second quarter in the current fiscal as against net profit of Rs 2.66 crore in the same period in 2012-13 fiscal.
EID Parry has interests in sugar business along with bio- pesticides and neutraceuticals. The company together with its subsidiaries have nine sugar factories with combined capacity to crush 34,750 tonnes of cane per day.
Shares of the company today closed at Rs 143.20 a piece on BSE up by 1.17%.
