EID Parry Q1 net profit falls 42%; shares slip 2%

EID Parry is a big company that makes sugar and fuel alcohol.

Every few months, companies tell people how much money they made.

EID Parry just shared its results for April, May, and June.

The company made less profit than it did last year — 42% less.

It still made Rs 141.6 crore, which is a lot of money.

Its sales actually went up a little bit.

But the things it had to pay for also went up, so less money was left over.

One part of its business — making a special alcohol used in drinks — sold less.

That is because drink makers in Tamil Nadu bought less of it.

When the news came out, the company's shares in the stock market went down by 2%.