Earnings | EID Parry (India) Ltd (NSE:EIDPARRY): Q3FY23 Results Out; Total Income rise 50% YoY

EID Parry (India) Ltd (NSE:EIDPARRY) is a leading Indian company that is primarily involved in the production and marketing of sugar, bio-products, and nutraceuticals. The company was founded in 1788 and is headquartered in Chennai, India. EID Parry has a strong presence in the agriculture and food sectors, and its products are widely used in the Indian and global markets. The company is part of the Murugappa Group, a leading business conglomerate in India.

EID Parry (India) has announced its standalone and consolidated results for the third quarter and nine months ended December 31, 2022. The company’s standalone revenue from operations for Q3FY23 was Rs 727 crore, up from Rs 686 crore in the corresponding quarter of the previous year. However, earnings before depreciation, interest, and taxes (EBITDA) for the quarter was lower at Rs 63 crore compared to Rs 72 crore in the same period of the previous year. Standalone profit after tax for the quarter was Rs 16 crore as against Rs 18 crore in the corresponding quarter of the previous year. For the nine months ended December 31, 2022, standalone revenue from operations was Rs 2,095 crore, up from Rs 1,574 crore in the corresponding period of the previous year. EBITDA for the period was Rs 199 crore, up from Rs 183 crore in the same period of the previous year. Standalone profit after tax for the nine months ended 31st December 2022 was Rs 114 crore as against Rs 58 crore in corresponding period of the previous year.

Moving on to the consolidated results, the company’s consolidated revenue from operations for the quarter ended December 31, 2022, was Rs 9,917 crore, a 52% increase from the corresponding quarter of the previous year of Rs 6,529 crore. EBITDA for the quarter was Rs 843 crore, up 29% from Rs 656 crore in the same period of the previous year. Consolidated profit after tax was Rs 482 crore compared to Rs 395 crore in corresponding quarter of previous year. For the nine months ended December 31, 2022, the consolidated revenue from operations was Rs 28,391 crore, up from Rs 17,862 crore in the corresponding period of the previous year. EBITDA for the period was Rs 2,574 crore, up from Rs 1,922 crore in the same period of the previous year. Consolidated profit after tax was Rs 1,541 crore as against Rs 1,145 crore in corresponding period of the previous year.

The consolidated results show a significant increase in revenue, EBITDA, and profit after tax compared to the previous year, indicating strong growth for the company. However, the standalone results for the quarter showed a decline in EBITDA compared to the previous year, although revenue and profit after tax remained steady. Overall, EID Parry’s results suggest that the company is on track for growth and success in the coming years.