HML posts 12 percent rise in income in Q3

By IANS
Wednesday, February 9, 2011

KOLKATA - RPG Group company Harrisons Malayalam Ltd (HML) Wednesday reported a 12 percent rise in income, to Rs 95.03 crore for the third quarter ending December 2010 from Rs 85.15 crore in the corresponding period the previous year.

According to a company release, the profit of HML, which is involved in diversified agri-business, was Rs 5.57 crore during the quarter.

Rubber prices were at all-time high and the average price realised during the quarter was Rs 209.87 per kg, as against Rs 119.57 in the previous period.

A sharp decline in the tea prices by over 18 percent and a drop in tea production by 5 percent, as against the previous period, offset the gains made by rubber.

Rubber volumes had also been low as compared to previous period on account of larger areas being under replanting.

Filed under: Economy

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