Sugar firm EID Parry (India) Ltd, today reported sharp increase in consolidated net profit at Rs 132 crore in the third quarter of this fiscal from Rs 6 crore in the year-ago period.
"The consolidated turnover for the quarter ended December 31, 2016, was Rs 3,509 crore, registering a reduction of 9 per cent in comparison to the corresponding quarter of previous year of Rs 3,855 crore," the Chennai-based company said in a statement.
The consolidated profit after tax and minority interest was Rs 132 crore compared to Rs 6 crore in corresponding quarter of previous year, it added.
The consolidated turnover for the first nine months of this fiscal stood at Rs 11,227 crore as against Rs 11,043 crore in the year-ago period.
"Consolidated profit after tax and minority interest was Rs 273 crore as against a loss of Rs 166 crore in corresponding nine months ended of the previous year," the company said.
EID Parry is a significant player in sugar with interests in bio-pesticides and nutraceuticals.
EID Parry, together with its subsidiaries, has nine sugar factories having a capacity to crush 39,000 tonnes of cane per day, generate 160 MW of power and four distilleries having a capacity of 230 kilo litre per day.