Sugar company EID Parry (India) announced Q1FY23 results:

• Consolidated:
  • The consolidated revenue from operations for the quarter ended 30th June 2022, was Rs. 7,146 Crore registering an increase of 64% in comparison to the corresponding quarter of previous year of Rs. 4,354 Crore. 
  • Earnings before depreciation, interest and taxes (EBITDA) and before exceptional items for the quarter ended 30th June 2022 was Rs. 754 Crore registering an increase of 53% in comparison to the corresponding quarter of previous year profit of Rs. 494 Crore.
  • Consolidated profit after tax and noncontrolling interest was Rs. 276 Crore compared to Rs. 133 Crore in the corresponding quarter of previous year.
• Standalone:
  • The Standalone revenue from operations for the quarter ended 30th June 2022 was Rs. 722 Crore in comparison to the corresponding quarter of previous year of Rs. 450 Crore. 
  • Profit before depreciation, interest and taxes (EBITDA) and before exceptional item for the quarter was Rs. 11 Crore compared to a loss of Rs. 4 Crore in corresponding quarter of the previous year.
  • Standalone profit after tax for the quarter was Rs. 13 Crore as against a loss of Rs. 33 Crore in the corresponding quarter of previous year.

Mr; S. Suresh, Managing Director commenting on the standalone results mentioned that "Operating performance of the Company during the quarter was significantly better than the corresponding quarter of the previous year on account of better volumes and realisation in sugar, power and distillery. The Company crushed around 2.69 LMT in current quarter as against 1.46 LMT in the corresponding quarter of the previous year. Higher power tariff helped in better profitability of the power segment.

Sale of Land and Buildings in Puducherry unit and the Plant and Machinery in Pettaivaithalai factory was completed during the Q1 22-23.

The Consolidated Nutraceutical operations registered a Loss before Interest and Tax of Rs. 3.64 Crore as against loss of Rs. 0.43 Crore corresponding quarter of previous year. This was mainiy attdbutable to the increase in marketing expenses due to B2C launch in the US."

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