Jay Shree Tea and Industries Ltd posted 32 per cent drop in net profit at Rs 30 crore for the quarter ended September 30, 2011, against Rs 44 crore during corresponding period last year.
Net sales were up 52 per cent at Rs 210 crore.
“We had earned Rs 11 crore from sale of exceptional item during second quarter of 2010-11. This is not available this quarter,” said Mr D.P. Maheshwari, Managing Director, Jay Shree.
Income from tea business grew by seven per cent at Rs 123 crore and profits increased by 34 per cent at Rs 43 crore.