New Delhi: Tea grower firm McLeod Russel on Monday reported widening of its standalone net loss to Rs 235.67 crore in the fourth quarter of fiscal year 2015-16 on higher expenses and financial cost.
The Kolkata-based company had posted a net loss of Rs 207.95 crore in the corresponding period a year ago, it said in a filing to the BSE.
While net sales grew slightly to Rs 317.32 crore in the January-March quarter of fiscal year 2015-16 from Rs 311.27 crore in the year-ago period, the expenses were up at Rs 560.66 crore as against Rs 525.25 crore a year ago.
Even the company's financial cost remained higher at Rs 25.59 crore in the fourth quarter of fiscal year 2015-16 as compared to Rs 16.32 crore in the year-ago period.
However, for the full fiscal year 2015-16, the company reported a consolidated net profit of Rs 37.30 crore, slightly better than Rs 31.17 crore achieved in the previous fiscal year.
The company is one of the largest tea plantation companies in the world and produces around 100 million kgs of tea a year from its estates in Assam and West Bengal and other estates in Vietnam, Uganda and Rwanda.
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