Harrisons Malayalam, an RPG group company, has registered a 57.5 per cent drop in net profit in 2010-11 to Rs 5.25 crore as against Rs 12.36 crore a year ago. It earned a total income of Rs 370.8 crore in the year as against Rs 331.51 crore in FY10, a growth of 12 per cent. The board has recommended a dividend of 15 per cent.
Tea prices that witnessed a steady decline during the first six months of the year under consideration, started recovering towards the last quarter. The average price realised for tea in FY11 was lower by Rs 18 per kg compared to FY10, the company said.
Rubber prices were upbeat throughout the year and the average price realised for FY11 stood at Rs 206.11 per kg, two-and-half times higher than the previous year's price of Rs 78.37.
