Mcleod Russel profit increases 98% to Rs 37.33 crore

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Mcleod Russel profit increases 98%
Tea manufacturing and distribution company Mcleod Russel India Limited announced its results for the quarter ended 30 June, 2011-12 on 29 July, 2011-12.The company reported a jump in net profit by 98.04 % to Rs 37.33 crore in the April-June quarter of 2011-12, as compared to Rs 18.85 crore in Q1, 2010-11. Total operating income increased by 20.07 % to Rs 150.3 crore in Q1, 2011-12, as compared to Rs 125.18 crore in the same quarter last year.

Operating expenses fell marginally by 0.58 % to Rs 103.64 crore in Q1, 2011-12, as compared to Rs 104.24 crore in the year ago quarter .However, raw material costs rose by 72.9 % year on year to Rs 35.79 crore in Q1, 2011-12, while employee costs went up by 12.97 % year on year to Rs 108.46 crore in the reported period. Operating profit increased by 122.83 % to Rs 46.66 crore in Q1, 2011-12, as compared to Rs 20.94 crore in the year ago quarter ,while operating margin jumped to 31.04 % in Q1,2011-12 , as compared to 16.73 % in the same quarter last year on the back of lower costs.

Other income fell by 72.14 % to Rs 2.63 crore in Q1, 2011-12, as compared to Rs 9.44 crore in the year ago quarter. Depreciation costs rose by 4.44 % year on year to Rs 7.06 crore in Q1, 2011-12, as compared to Rs 6.76 crore in the year ago quarter .Interest costs rose by 2.73 % year on year to Rs 4.9 crore in the reported period. There were no tax expenses in the reported quarter, which was also the case in the year ago quarter.EPS stood at Rs 3.41 in Q1, 2011-12, as compared to Rs 1.72 in Q1, 2010-11.

Read more about: mcleod russel india, bse, nse, tea
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