Strong quarter for EID Parry bioproducts
Date:12-10-2007
Indian company EID Parry (Chennai) recorded sales of Rs 98 million ($2.5 million) for its bioproducts division in the second quarter ended September 30th 2007. This amounted to an increase of 29.4% over the corresponding quarter last year. Earnings before tax and interest (EBIT) increased more than six-fold from Rs 2 million in the second quarter last year to Rs 12.8 million in the latest one. There was a leap of 75.8% in the half-yearly revenues from Rs 99 million to Rs 174 million. The bioproducts division includes neem-based pesticides sold under the NeemAzal brand, and its performance presented a contrast to the overall performance of the company where flat second-quarter sales were recorded with an operating loss of Rs 30.9 million.
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