The Rs 200 crore plantation company Harrisons Malyalam Ltd, (HML) has achieved a turvover of Rs 70.47 crore for the quarter April to June this year, a record 69 per cent growth over the same period the previous year and is eyeing new export markets for tea and rubber.
Improved realisation for tea and rubber, marked increase in production and better capacity utilisation contributed to the achievement, an HML press release said today.
The quarter ended with a PAT (Profit after tax) of Rs 6.76 crore as against Rs 0.48 crore during the corresponding period last year.
The RPG group owned HML is in the process of identifying new export markets for tea and rubber with a view to improve the overall realisation.
It has also initiated steps to modernise its factories and embarked on an Accelerated Replanting and Infilling programme to improve productivity of land.
RPG Enterprises is one of India's largest business groups with a turnover of Rs 13,500 crore. RPG Enterprises has major presence in core sectors like Power, Tyres, Retail, Technology and Entertainment.
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HML is the single largest producer and manufacturer of Natural Rubber in the country and the second largest producer and manufacturer of Black Tea in South India and the single largest grower for Pineapple in the country.
Its core strength is management of plantations and large Human resource. The company exports tea to various countries, including Russia, Sri Lanka and Pakistan, and Rubber to Turkey, Span, France, Dubai and Brazil, the release said.