Tea plantation company McLeod Russel India today said its net loss has narrowed to Rs 88.61 crore in the fourth quarter ended March 31, 2009. It had a net loss of Rs 97.34 crore in the same period last year, Mcleod Russel India said in a filing to the Bombay Stock Exchange. The company had a total income of Rs 217.45 crore for the fourth quarter ended March 2009, against Rs 193.03 crore in the same period last year. For the year ended March 31, 2009, the company has posted a consolidated net profit of Rs 83.47 crore, up 79.85 per cent from Rs 46.41 crore in the same period last year. The board of directors of the company has proposed a dividend of Rs 2 a piece on the equity shares of Rs five each for the financial year ended March 31, 2009. Shares of Mcleod Russel India were trading at Rs 102.50, down 0.44 per cent on the BSE. The company's exports grew by over 100 per cent to Rs 314.83 crore during 2008-09 compared to Rs 145.15 crore in the previous year.
Meanwhile, the promoters pledged 40 per cent of their own stake, which was 18.47 per cent of the total paid up capital of the company, in the bulk tea major.
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