ACL registers 37 per cent net income

Kolkata, Nov 05 (UNI) Tea major Assam Company Limited (ACL) has reported 37 per cent net income for the third quarter of the current fiscal.

An official communique of the company here today informed that it registered net income of Rs 71.63 crore and PAT of Rs 24.65 crore, an increase of 92 per cent over Rs 12.84 crore in the corresponding quarter of the last fiscal.

The net income rose by 37 per cent, up from Rs 52.11 crore for the same period last year.

The total revenue for ACL comprised 81 per cent contribution from tea business while oil and gas contributed to 19 per cent for the company this quarter.

The EBITDA stood at Rs 32.47 crore for the quarter ending in September 2008 which was Rs 18.64 crore for the same period last year.

EPS of the company has gone up to Rs 0.80 this quarter from Rs 0.57 while the nominal value of equity share was Rs one, the communique added.

A K Jajodia, Managing Director and CEO of the company, commenting on the excellent performance said '' our strong numbers are reflection of the success of our strategy of leveraging our tradional strength in the tea business to drive revenues and facilitate scalability of our oil and gas business which can boost our margins further''.

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