McLeod Russel reports Rs 44 crore consolidated net loss in Dec quarter

McLeod Russel India, the country’s largest bulk tea producer, reported a net loss of Rs 43.58 crore on a consolidated basis in the December quarter. It had reported a net profit of Rs 1.04 crore in the year-ago period.

Sources however pointed out that in the year-ago period, prices in the tea industry were the highest due to supply constraints on account of Covid lockdown. Revenue from operations stood at Rs 388.75 crore in the December quarter compared to Rs 447.54 crore in the same period last year.

Between September and November, the company saw lower crop on account of a dry