Tea producer Mcleod Russel’s second quarter net profit slipped 9 percent to Rs 221.5 crore from Rs 245.5 Crore, Y-o-Y.
The company’s net sales were down at Rs 487.2 crore against Rs 490.8 crore, Y-o-Y.
The EBITDA was down at Rs 243 crore versus Rs 252 crore and EBITDA margin was at 50 percent against 51.4 percent, Y-o-Y.
The company is going to acquire LAB International’s 90 percent shares in Pfunda Tea for USD 19.5 million.
On Tuesday Mcleod Russel (India) closed at Rs 248.60, down Rs 3.40, or 1.35 percent.
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