EID Parry (India) Ltd, one of the major sugar manufacturers in the country, has reported an increase in its net profit to Rs 131 crore. The company has witnessed a hike in its profit on better realisation and cost-reduction measures.
S. Suresh, MD of the company said, “The industry is expecting an increase in the sugar MSP that will help the sector. Availability of cane is expected to be better in Karnataka for sugar season 2020-21 against previous sugar season, while in Tamil Nadu and Andhra it is expected to be in same lines as that of last year.”
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