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Rossell India has reported a net loss of approximately Rs 13 crore for the quarter ended March 31, 2015. Losses widened by over 44 per cent from Rs 9 crore (net loss) reported in the year-ago period. The losses came primarily on account of a slowdown in tea business.
Total income from operations, during the period, remained more or less flat at Rs 28 crore.
In the tea business, the company saw its revenues drop by nearly 15 per cent to Rs 20.42 crore (about Rs 24 crore). Losses (before tax) too widened by nearly 89 per cent to a little over Rs 12 crore from Rs 6.39 crore reported in the year-ago period.
The company's aviation, products & services business reported a profit (before tax) of Re 0.37 crore for the fourth quarter of last fiscal after being in the red in the year-ago period. Revenues moved up by 132 per cent to Rs 5.31 crore during this period.
The board of directors has declared a dividend of Re 0.50 or 25 per cent on each equity share having a face value of Rs 2.00 each.
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