Tea firm McLeod Russel’s net profit dips 13 percent

Kolkata, Jan 30 (IANS) McLeod Russel India Ltd., the world’s largest tea producer, Monday reported a 13 percent dip in its standalone net profit at Rs.1.17 billion in the quarter ended Dec 31, 2011, as against Rs.1.35 billion during the same period in the previous year.

According to a company release issued here, the company’s operating profit stood at Rs.1.26 billion during the period under review from Rs.1.4 billion in the corresponding period last fiscal, reporting a decrease of 10 percent.

The operating profit of the company suffered on account of loss of crop to the tune of 2.1 million kg due to early winter in Assam, the release said.