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Jay Shree Tea and Industries Ltd, a B.K. Birla group company, reported a marked increase in second quarter net profit owing to higher price realisations in tea and sugar, a company official said. The Q2 net profit stood at Rs 59.15 crore against Rs 29.62 crore in the comparable quarter last year and Rs 4.86 crore in Q1 this fiscal.
R.K. Ganeriwala, CFO, told Business Line the average price realisation for tea was higher by Rs 54 a kg against the July-September quarter last year. In sugar, the realisation was up by Rs 5 a kg. The tea crop loss caused a sharp rise in prices. Jay Shree Tea registered a 16 per cent crop loss on account of bad weather in the domestic tea-growing regions.
Tea operations contributed a profit of Rs 60.21 crore, up Q-o-Q from Rs 42.66 crore.
>Jayanta.mallick@thehindu.co.in
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