EID Parry’s Q2 net profit slips 32% y-o-y

18 Nov 2024 , 01:01 PM

On Thursday (November 14), sugar maker EID Parry India Ltd reported a 32.4% YoY fall in net profit at ₹305.6 Crore for the second quarter ended September 30, 2024.

In the preceding fiscal quarter, EID Parry India reported a net profit of ₹452.3 Crore, according to a regulatory filing. The company’s revenue from operations climbed by 3% to ₹9,330.4 Crore, up from ₹9,059.5 Crore the previous fiscal year.

In the second quarter of this fiscal, EBITDA decreased by 8.1% to ₹972 Crore from ₹1,057 Crore in the same period last year.

The standalone revenue from operations for the quarter ended September 30, 2024, was ₹755 Crore, compared to ₹726 Crore in the previous year. 

Standalone EBITDA for the quarter ending September 30, 2024, was ₹75 Crore, compared to ₹131 Crore in the same quarter the previous year.

The standalone profit after tax for the period was ₹28 Crore, compared to ₹86 Crore in the same quarter last year.

In the half-year ended September 30, 2024, the standalone revenue from operations was ₹1,506 Crore, compared to ₹1,424 Crore in the previous year.

The combined sugar operations, comprising the refinery business, reported a loss before interest and tax of ₹38 Crore for the quarter, compared to a profit of ₹24 Crore in the same quarter last year. The farm inputs business reported a profit before interest and tax (PBIT) of ₹959 Crore, down from ₹1,078 Crore in the previous year’s corresponding period.

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