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Parry Agro net loss at 2.06 cr

CHENNAI: Parry Agro Industries Ltd has reported a net loss of Rs 2.06 crore on a sales of Rs 19.71 crore for the three months ended June 30, 2001 against a net profit of Rs 1.24 crore on a sales of Rs 21.03 crore during the corresponding period in the pr evious year, according to a company press release.

The company has attributed the loss to decrease in other income - dividend on investment - as compared to the previous period when it was received in the first quarter. During the current year, the dividend income is expected in the subsequent quarters, according to the press release.

Other income was Rs 32 lakh (Rs 3.54 crore), interest Rs 1.80 crore (Rs 2.06 crore), depreciation Rs 58 lakh (Rs 51 lakh), provision for taxation Rs 9 lakh (Rs 1.06 crore) and deferred tax liability Rs 10 lakh.

During the accounting year ended March 31, 2001, the company reported a net profit of Rs 1.13 crore on a sales of Rs 83.65 crore. -- Our Bureau