Mcleod Russel sizzles on plans to dispose tea estates
by Admin |06/06/2018
Mcleod Russel India said that the company has decided to dispose of certain tea estates of the company in Assam, namely Beesakopie Tea Estate, Raidang Tea Estate, Daimukhia Tea Estate, Samdang Tea Estate, Baghjan Tea Estate, Bordubi Tea Estate, Koomsong Tea Estate and Phillobari Tea Estate for Rs 331 crore. The company has entered into a Memorandum of Understanding with M K Shah Exports on 5 June 2018.
M K Shah Exports having its registered office at Kolkata is engaged in the production, manufacture, sale and export of tea.
Mcleod Russel India reported net loss of Rs 142.09 crore in Q4 March 2018 as compared with net loss of Rs 107.83 crore in Q4 March 2017. Net sales rose 0.26% to Rs 377.91 crore in Q4 March 2018 over Q4 March 2017.
Mcleod Russel India is engaged in manufacturing of tea.