McLeod Russel posts Rs.147 crore net loss in Q4

McLeod Russel, the largest tea producing company in the world, Monday said it narrowed its net loss to Rs.147.07 crore for the quarter ended March 31, 2013, compared to Rs.157.39 crore registered in the corresponding period the previous year.

The city-based firm's total income during the forth quarter last fiscal rose to Rs.334.71 crore from Rs.260.14 crore for the same period previous fiscal.

The company posted a net profit of Rs.225.70 crore for the year ended March 31, 2013, as compared to Rs.220.28 crore for the year ended March 31, 2012.

Its total income increased from Rs.1,280.54 crore for the fiscal year 2011-12 to Rs.1,418.10 crore for the fiscal year 2012-13.

Tea prices for the company for the year went up by Rs.22 per kg over the previous year, it said in a release here.

Total sales volume during the year was lower by 23 lakh kg, the release said, adding that total exports for the company during the year was 25 million kg at Rs.191 per kg against 24 million kg at Rs.170 per kg previous year.