McLeod Russel India has registered an 11 per cent increase in net profit to Rs 223.23 crore for the quarter ended September 30, 2011, compared to the same period last year, on the back of a shortfall in pipeline stock resulting in higher prices.
The selling price at Rs 157.58 per kg during the quarter was higher by Rs 5.98. Sales/ income from operations stood at Rs 405.69 crore, higher by 12.30 per cent.
The company expects domestic prices to stabilize while global prices for CTC teas will be higher on account of production shortfall in Kenya and other African countries.