India: eid parry posts net loss of ₹83 cr

A one-time settlement involving additional price for sugarcane and low sugar prices have taken a toll on EID Parry which has reported a net loss for the third quarter of the current year.

For the quarter ended December 31, 2017, the Murugappa Group company reported a net loss of ₹82.98 crore on a total income of ₹488.68 crore on a standalone basis. During the corresponding quarter in the previous year, it reported a net profit of ₹12.22 crore on an income of ₹564.96 crore.