Comments
McLeod Russell Ltd, the world’s largest tea grower, posted a net loss of Rs 147 crore for the quarter ended March 31, 2013. On a year-on-year basis, the losses have narrowed down from Rs 157 crore during the quarter ended March 31, 2012.
The company’s board has recommended a dividend of Rs 7 a share of face value of Rs 5 each.
Shares of McLeod Russell closed at Rs 301.40, up by 1.52 per cent on the BSE on Monday.
According to Kamal Baheti, chief financial officer of McLeod, tea being a seasonal crop, the last quarter results usually remain subdued.
Net sales grew by 28 per cent to Rs 323 crore. Despite a rise in costs and a drop in production due to crop loss, the B.M. Khaitan Group company, McLeod, has been able to maintain its profit margins at last years’ levels, Baheti said.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.