McLeod Russel Q1 Net up 36% at Rs 26.21 cr

NEW DELHI: World's leading tea producer McLeod Russel India today reported a 35.73 per cent jump in net profit to Rs 26.21 crore in the first quarter ended June 30, 2013, on account of higher income.

The company had clocked a net profit of Rs 19.31 crore in the same quarter a year ago.

Total income of the company increased 21.04 per cent to Rs 176.34 crore during the April-June period of this financial year from Rs 145.68 crore in the same period last year, the company said in a filing to the BSE.

McLeod Russel produces approximately 100 million kg of high quality tea a year from tea estates in Assam, West Bengal, Vietnam, Uganda and Rwanda. The company exports tea to Europe, the Middle East and North America.

The company reported increase of 3 million kg in the production to 24 million kg while its sales volume were up by 2 million kg to 9 million during the first quarter of the current fiscal.

The shares of the company fell 0.98 per cent to Rs 278.35 apiece on the BSE today.