McLeod Russel Q3 net profit marginally up 4.5 pc to Rs 128.66 cr

Written by PTI | New Delhi | Updated: Jan 22 2014, 02:26am hrs
McLeod RusselThe company exports tea to Europe, the Middle East and North America. Reuters
McLeod Russel Ltd (MCLR), leading global tea grower, today posted a marginal increase of 4.47 per cent in net profit to Rs 128.66 crore for the third quarter ended on December 31.

It had clocked net profit of Rs 123.15 crore in the corresponding period last year, the company said in a filing to the BSE.

Total income rose to Rs 475.99 crore during the October- December period of the current fiscal from Rs 448.13 crore in the corresponding quarter of previous fiscal.

There was marginal increase in profits of the company as expenses jumped to Rs 341.22 crore during the third quarter of current fiscal from Rs 319.79 crore in the same period last fiscal.

MCLR's registered office is located in Kolkata and 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.

Shares of the company closed down by 1.39 per cent at Rs 276.40 apiece on BSE today.