E.I.D. – PARRY (India ) Limited Announces Unaudited Financial Results for the Quarter Ended June 30, 2009


Chennai, July 29, 2009: The turnover of E.I.D. – Parry (India) Limited for the quarter ended 30th June, 2009 was Rs.205.34 crore (Rs.203.80 crore). Gross operating profit for the quarter was Rs. 38.87 crore (Rs.5.96 crore) after absorbing depreciation of Rs. 16.91 crore (Rs.12.08 crore). After absorbing interest cost of Rs.9.20 crore (Rs. 7.93 crore) and considering Other Income of Rs.5.22 crore (Rs.5.97 crore), the profit before tax for the quarter was Rs. 34.89 crore (Rs. 4.00 crore). The profit after tax for the quarter stood at Rs. 26.25 crore (Rs.2.77 crore).

The consolidated turnover for the quarter ended 30th June, 2009 was Rs. 1790.94 crore (Rs.1604.48 crore). The profit after tax for the quarter stood at Rs. 76.41 crore (Rs.195.42 crore).

Sugar Division
During the quarter, the company crushed 7.28 lakh tonnes of cane compared to 11.61 lakh tonnes in the corresponding period of 2008-09. The company exported 549 lakh units of power to the TNEB Grid compared to 956 lakh units for the corresponding period of 2008-09.

The sugarcane related operation yielded a profit of Rs. 43.19 crore (Profit of Rs. 8.03 crore). This comprises of profit of Rs. 39.35 crore (loss of Rs. 7.74 crore) from Sugar including Distillery and Rs. 3.84 crore (Rs.15.77 crore) from Cogeneration.

Bio-Products Division
The Bio-pesticides Segment reported a loss of Rs.0.85 crore for the quarter (loss of Rs.0.13 crore) and the Nutraceuticals Segment reported a profit of Rs.0.57 crore (Rs.0.15 crore).

About the Murugappa Group
Headquartered in Chennai, the Rs. 15,646 crores (USD 3 billion) Murugappa Group is one of India’s leading business conglomerates. Market leaders in diverse areas of business including Engineering, Abrasives, Finance, General Insurance, Cycles, Sugar, Farm Inputs, Fertilizers, Plantations, Bio-products and Nutraceuticals, its 29 companies have manufacturing facilities spread across 13 states in India. The organization fosters an environment of professionalism and has a workforce of over 32,000 employees. The Group has forged strong joint venture alliances with leading international companies like DBS Bank, Mitsui Sumitomo, Cargill, Foskor and Groupe Chimique Tunisien has consolidated its status as one of the fastest growing diversified business houses in India.