The world’s largest tea planter, McLeod Russel, reported a near 29 per cent dip in net profit to Rs 57 crore for the quarter ending December 31, 2015. Net profit in the corresponding period in the last fiscal stood at Rs 80 crore.
During the quarter the company saw an over 6 per cent increased in total income from operations to Rs 510 crore (Rs 481 crore), while other income too more than doubled to Rs 22 crore (Rs 10.37 crore).
While income from its India operations (net sales) declined by 9 per cent to Rs 320 crore (Rs 351 crore), operations from outside India increased significantly by 47 per cent to Rs 181 crore (Rs 123 crore).
However, during the period, total expenses increased by over 14 per cent to Rs 447 crore as against Rs 391 crore in the year-ago period, the company said in a filing to the bourses.