McLeod Russell posts Rs 147-cr Q4 loss

Our Bureau Kolkata | Updated on May 27, 2013 Published on May 27, 2013

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.

Published on May 27, 2013
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