Chennai: Sugar manufacturer EID Parry (India) Limited has reported financial results for the quarter and year ended 31 March and has said its consolidated revenue for the quarter was Rs 3,652 crore, registering an increase of 8 per cent year-on-year.
Earnings (profit) before depreciation, interest and taxes (EBITDA) for the quarter stood at Rs 487 crore, against corresponding quarter of previous year of Rs 255 crore. Consolidated profit after tax and non-controlling interest was Rs 158 crore, the firm said in a release.
The consolidated revenue from operations for the year was Rs 16,565 crore, an increase of 7 per cent, against the previous year’s Rs 15,438 crore.
MD, EID Parry (India), S Suresh, said, “The performance of the company for the year was largely impacted due to depressed sugar selling price. This is on account of demand-supply mismatch in sugar market caused due to huge sugar production in the country for sugar season 2018-19. The increase of minimum selling price by Rs 2 per kg helped the company realise marginal profits during the Q4 of 2018-19. Production for the year has been in line with the last year. The company exported 46,000 mt under minimum indicative export quota (MIEQ).”