Diversified agriculture firm EID Parry today posted a 86.43 per cent drop in consolidated net profit at Rs 40.48 crore for the January-March quarter of 2017-18 fiscal as its sales declined and expenditure increased.
The Chennai-based company had clocked a net profit of Rs 300.38 crore in the same quarter of last fiscal, according to a BSE filing.
Total income declined marginally to Rs 3,378.43 crore in January-March 2018 from Rs 3,478.25 crore in the year-ago period.
However, the company's expenditure increased to Rs 3,284.30 crore from Rs 3,161.14 crore in the said period.
Shares of the company fell by 2.73 per cent to settle at Rs 261.55 a piece on the BSE today.
The company is engaged in sugar, crop nutrients and other allied businesses.
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