Harrisons Malayalam records 69 pc growth in Q1

Kochi, July 31: Harrisons Malayalam Limited, a RPG Group company, on Thursday, July 31 reported a record growth its turnover by 69 per cent to Rs 70.47 crore for the quarter ended June 30, compared to the same period of the corresponding year, the company said.

This was attributed to improved realisation for tea and rubber, a company release said. A marked increase in production and better capacity utilization contributed to the top line as well as the bottom line. The quarter ended with a profit after tax(PAT) of Rs. 6.76 crore against Rs.0.48 crore for the quarter ended June 30, 2007.

The company, which is the single largest producer of natural rubber in India and the second largest producer of tea in South India, was in the process of identifying new export markets for tea and rubber, with a view to improving the overall realisation. The company had initiated steps to modernise its factories and embarked on an accelerated, replanting and infilling programme to improve productivity of land, the release added.

UNI