Bulk tea producer McLeod Russel reported a 38.25 per cent jump in net profit at ₹84.54 crore in the second quarter on a consolidated basis compared with ₹61.15 crore a year ago as the company reaped the benefit of higher tea prices.
Total income rose 23.2 per cent to ₹453.48 crore in Q2FY25 compared with ₹367.94 crore in the same period of FY24. On a six-month basis, India’s largest tea producer returned to the black with a profit of ₹63.9 crore compared with ₹11.5 crore loss in H1FY24.
In a note to the results, McLeod said that realisation against tea improved to a ‘certain extent’, even as there was loss of crop owing to weather conditions, which impacted the volume of operations and the company’s performance on an overall basis.
However, McLeod’s financial position continues to be under stress and the management is waiting for the resolution of its outstanding debt.
Kilburn PAT at ₹15cr
Drying equipment maker Kilburn Engineering posted a profit after tax of ₹15.22 crore in Q2FY25 and an income from operations of ₹103.76 crore. The order backlog stood at ₹354 crore on September 30, while it has booked orders of another ₹130 crore in Q3 till date.
Amritanshu Khaitan, director of Kilburn, said the company is confident of delivering a ‘substantially’ higher turnover in H2, enabling the company to cross ₹500-crore turnover in FY25.
