McLeod Russel Q2 net rises 11%

Riding on the back of higher sales of tea – both in the domestic as well as global markets – McLeod Russel India Ltd posted 11 per cent growth in net profit at Rs 223 crore (Rs 201 crore) for the quarter ended September 30, 2011. Total sales grew by 12 per cent at Rs 406 crore (Rs 361 crore). Sales revenue from domestic market grew by 14 per cent at Rs 266 crore (Rs 233 crore). McLeod's scrip dropped by 0.84 per cent to close at Rs 254.75 on the BSE on Tuesday. Exports – which account for about 34 per cent of its total sales – grew by nine per cent at Rs 140 crore (Rs 128 crore). Total income grew by 12 per cent at Rs 416 crore. –