CALCUTTA, March 3: The Assam Company has posted a phenomenal over 700 per cent rise in its net profit for the six-month to December 31, 1997. The tea major has also recorded a 37 per cent rise in its net sales for the six months over the corresponding period the previous year.Assam Company made a net profit of Rs 5.95 crore for the six months to December 31, 1997, compared to a loss of Rs 71.66 lakh recorded in the corresponding period the previous year. Most of the profits made by the company are attributed to the good prices of tea in the Indian markets. Tea prices witnessed an upward trend from August onwards, which in fact coincided with the company's half-yearly results. The six-month unaudited results were put forward at the company's board meeting on February 28. Sources said the company will end the current year with good profits due to the prevailing buoyant prices.
Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
