A nearly 90 per cent drop in sugarcane availability in Tamil Nadu has hit EID Parry which has reported a loss in the first quarter of the current year.

On a standalone basis, the Murugappa Group company reported a net loss of ₹18.37 crore on a total income of ₹525 crore for the quarter ended June 30, 2017.

During the previous comparable quarter, the company reported a net profit of ₹25.34 crore on an income of ₹592 crore. Total expenses were at ₹554 crore (₹565 crore).

S Suresh, Managing Director, said the drop in cane availability in Tamil Nadu due to drought had a cascading effect on the production and sale of sugar, power and alcohol.

On a consolidated basis, the company reported a net profit of ₹20.33 crore (₹18.90 crore) on a total income of ₹3,430 crore (₹3,075 crore).