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Apr 25, 2012, 04.59 PM IST
EID Parry has reported a growth of 23% year-on-year in its consolidated net profit of Rs 138 crore in the fourth quarter of FY12.
Consolidated net sales increased 94.8% to Rs 3,585 crore from Rs 1,840.5 crore during the same period.
The board of directors of the company in a meeting held on April 25, 2012 have approved a scheme of arrangement (Demerger). The Sankili and Haliyal undertakings of Parrys Sugar and Industries Limited (PSIL), the company's subsidiary, would be merged into the company w.e.f. April 01, 2012.
Upon this scheme becoming effective, EID Parry (India) Ltd shall issue equity shares of the company to the shareholders of PSIL in the ratio of five equity shares of Re 1 each fully paid for every 19 shares of Rs 10 each fully paid, held by them in PSIL.
Tags: EID Parry
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