Chennai-based EID Parry India, a part of Murugappa group, said on Thursday that Pune-based Phytoremedies Biolabs has become a subsidiary of the company consequent to the acquisition of 51% stake.
Phytoremedies Biolabs is a company engaged in the business of Nutraceuticals.
EID Parry India swung to loss of Rs 233.30 million for the quarter ended Dec. 31, 2007, compared with a profit of Rs 35.30 million in the same quarter, last year.
Net sales for the quarter climbed 30.78% to Rs 1,972.80 million when compared with the corresponding quarter, a year ago.(My Iris)