Q4FY17 results: Mcleod Russel India Ltd
Mcleod Russel India Ltd reported its results for the quarter ended March 31, 2017.
The company's total sales for Q3FY17 came in at Rs 426 crore, which represents a 3.73 per cent sequential decline and 34.26 per cent YoY increase.
Its operating loss (EBIT loss) for the quarter amounted to Rs. 185.6 crore.
The company reported net loss of Rs 107.8 crore, as against net profit of Rs 23.6 crore posted in the previous quarter.
The company’s stock opened at Rs 165.5 and posted an intra-day high and low of Rs 168.75 and Rs 165.45, respectively. The stock closed at Rs 166.6, registering minor gain of 0.3%.
McLeod Russel is a tea plantation company primarily engaged in the business of cultivation, manufacture and sale of tea. The company has recently confirmed that it would participate in a JV with Eveready Industries for development of packet tea business, forming a separate entity.