Cargill reports 6 percent drop in quarterly profit

REUTERS - Global commodities trader Cargill Inc on Wednesday reported a 6 percent drop in its quarterly profit, hurt by higher cattle costs.

The privately held company said net income fell to $924 million in the second quarter ended Nov. 30 from $986 million, a year earlier.

Excluding one-time items, Cargill reported a quarterly net income of $948 million, down from $1.03 billion a year earlier.

Revenue rose 8 percent to $29.2 billion.

(Reporting by Karan Nagarkatti in Bengaluru; Editing by Arun Koyyur)