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Assam Company India Ltd reported a nearly six-fold increase in its net profit to Rs 10.97 crore for the current quarter ended December 31, 2010 against Rs 1.91 crore during the corresponding quarter of the previous fiscal. According to a company release, this is against a 2.60 per cent increase in revenue to Rs 95 crore.
Topline growth during the quarter was fuelled by the company's tea business which contributed nearly 98 per cent of the total revenue, while the remaining revenue was contributed by its oil and gas business. The Assam Company stock was up 6.96 per cent to close at Rs 15 on the BSE on Friday.
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