Rossell India Ltd, formerly Rossell Tea Ltd, has reported a net profit of Rs 2.9 crore in the first quarter to June 30, 2011 against Rs 2.17 crore in the corresponding quarter of the previous year.
According to Mr H.M. Gupta, Executive Chairman, the tea business of the company became a division this financial year. The average price realisation per kg of tea for the company was higher by Rs 11.77 in 2010-11 than the previous year. It recorded 28.57 per cent rise in exports at 193 million kg.
Rossell also has an aviation industry related products and services division, which, the company said, was looking for growth by way strategic tie-up with foreign original equipment manufacturers of supplies to the Indian defence and civil aviation establishments.
The company intends to build more niche technological skills, services and product portfolios in this sector, it said in its annual report. In FY2011, the division posted a lower net profit of Rs 3.48 crore against Rs 4.47 crore in FY 2010.
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