EID Parry logs marginal increase in Q2 PAT, declares interim dividend of Rs 4

Sugar major EID Parry (India) Ltd closed the second quarter of FY24 with a marginal increase in its net profit over the previous year's corresponding period.

The company on Wednesday declared an interim dividend of Rs 4 per share having a face value of Re.1.

The standalone revenue from operations for the quarter ended September 30, 2023 was Rs 726 crore registering a growth of 13 per cent as against Rs. 644 crore in the corresponding quarter of previous year.

Earnings before depreciation, interest and taxes (EBITDA) for the quarter ended was Rs 131 crore as against Rs 125 crore in the corresponding quarter of previous year.

Standalone profit after tax for the quarter was Rs 86 crore as against Rs 85 crore in the corresponding quarter of previous year.

"Sugar segment's performance for the current quarter has been lower as compared to the corresponding quarter of the previous year mainly due to export release order restrictions imposed by the government."

"However, on the positive side, this has been offset by increase in domestic volumes by around 0.37 LMT (lakh metric ton) in Q2 23-24 as against corresponding quarter of the previous year coupled with better domestic realisations," Managing Director S.Suresh