McLeod Russel posts Rs 230 cr profit

The company sold one of its tea estate in West Bengal of Rs 25 crore during the quarter,the filing said.

Bulk tea major McLeod Russel today reported a marginal increase of 3 per cent in its net profit at Rs 230.31 crore for the quarter ended September 30.

The company,which is the largest bulk tea company in the world,had posted a net profit of Rs 223.23 crore in the year ago period,it said in a filing to the BSE.

Net sales of the Kolkata-based company rose by 4 per cent to Rs 430.06 crore in the second quarter this fiscal from Rs 414.81 crore in the same quarter of 2011-12 fiscal.

Story continues below this ad

The total expenditure of the company rose to Rs 213.93 crore in the July-September quarter of 2012-13 fiscal from Rs 199.47 crore in the same period of last fiscal.

The company sold one of its tea estate in West Bengal of Rs 25 crore during the quarter,the filing said.

On the outlook for tea production in the country,McLeod Russel said that the output is expected to decline on adverse weather conditions.

“Indian production is estimated to be lower by 25-30 million kg as compared to last year up to September. Weather conditions continue to be difficult during October as well

Story continues below this ad

which is likely to increase the shortfall further,” it said in a separate filing to the BSE.

India,the world’s second largest tea producer,had produced 111.06 million kg of the brew in January-September period of the 2011 calendar year.

The company’s own production fell to 54.8 million kg in the first 6 months of this fiscal against 58.9 million kg in the same period of 2011-12 fiscal.

Shares of the company today fell marginally by 0.17 per cent to settle at Rs 296.95 a piece from previous close at the BSE.

Tags:
BSE

H-1B visa fee hike, US H-1B visa policy, $100000 H-1B visa fee, India response to H-1B fee, humanitarian impact H-1B visa, Indian government on H-1B, Randhir Jaiswal H-1B statement, Indian IT companies H-1B visas, Infosys H-1B approvals, TCS H-1B visa employees, Wipro H-1B visa applications, HCL H-1B workforce, US visa restrictions 2025, H-1B visa deadline September 21, Microsoft H-1B travel advisory, Amazon H-1B visa holders, JP Morgan H-1B guidance, H-1B visa program abuse, Indian skilled workers in US, USCIS H-1B data 2023

‘I don’t know what awaits me in the US’: The lives upended by Trump’s H-1B proclamation

India7 hr ago

The recent imposition of a $100,000 fee on H-1B visas by Trump has caused chaos and uncertainty for Indian families in Dubai, leading many to rush back to the US. This has particularly affected Telugu-speaking Indians, with the Telangana IT Minister seeking intervention from the Centre.

View all shorts

Live Blog