Jay Shree Tea and Industries posts Rs.31.84 crore loss

Kolkata-based Jay Shree Tea and Industries Ltd on Tuesday posted a wider loss in its net profit at Rs.31.84 crore during the first quarter of the current fiscal against Rs.5.54 crore last fiscal as its sugar business suffered a huge fall in profitability.

Total earnings of the company also fell to Rs.104.67 crore during the period as against Rs. 115.61 crore in the same timeperiod in 2014.

While its earnings from the tea business remained flat during the quarter, revenues in the sugar vertical fell from Rs.37.71 crore to Rs.25.58 crore.

However, it was the bottomline in sugar which took the hit as it suffered a Rs.21.98 crore loss in the quarter against Rs.1.70 crore in the year-ago period.

 

Profitability from tea also fell to Rs.3.62 crore as against Rs.9.80 crore last year.