EID Parry's Q1FY23 PAT jumps by a whopping 107% y-o-y at Rs276 crore; stock zooms ~2%

10 Aug 2022 , 09:47 AM

EID Parry (India) Limited, one of the largest manufacturers of Sugar in India, announced financial results for the quarter ended June 30, 2022.

The consolidated revenue from operations for Q1FY23 stood at Rs7,146 crore registering an increase of 64% yoy as compared to Rs4,354 crore in Q1FY22.

Company’s Earnings before depreciation, interest, and taxes (EBITDA) and before exceptional items for the quarter ended June 30, 2022, was reported at Rs754 crore up by 53% yoy as compared to Rs494 crore in the previous corresponding quarter.

Company reported a 107.52% y-o-y growth in its Consolidated PAT for Q1FY23 at Rs276 crore as compared to Rs133 crore in the quarter ended June 30, 2021.

On a Standalone basis, revenue from operations jumped 60.44% yoy at Rs722 crore in Q1FY23 as against Rs450 crore in the previous corresponding quarter.

Standalone EBITDA for the quarter stood at Rs11 crore as compared to a loss of Rs4 crore in the corresponding quarter of the previous year.

Standalone profit after tax was reported at Rs13 crore in Q1FY23 as against a loss of Rs33 crore in the corresponding quarter of the previous year.

The Consolidated Farm Inputs operations reported an operating profit of Rs689 crore.

At around 9.32 AM, EID Parry (India) was trading at Rs569 per piece, up by 1.93% from its previous closing of Rs558.25 on the NSE. The scrip opened at Rs560.35 and has touched intraday high and low of Rs572.90 and Rs556.55 respectively.