Monsoon delay to result in lower kharif crop: UR Associates

The onset of monsoon has been delayed this year and as per the weather officials it could enter the Kerala coast around June 5th, which is five days later than the earlier estimated date of June 1st. The timely advent of monsoons is imperative for a country like India where majority of the people earn their livelihood from agriculture and are largely dependent on the monsoon rains for farming in the absent of proper irrigation facilities. The delay in rains will result in loss of moisture in the soil leading to lower yields and also lead to delay in planting of kharif crops. A delayed monsoon would be the last thing India would want as the country is already grappling with high inflation rates due to both supply constraints and higher demand and a delayed monsoon would result in lower kharif crop resulting in shooting up of food prices which are already at a hardly affordable level for the common man of the country.

Shree Renuka Sugars reported Q4 net loss of Rs 71.9 crore: Shree Renuka Sugars reported a net loss of Rs 71.9 crore for the quarter ended March, 2012 compared to a net profit of Rs 59.4 crore in the year-ago period. The net loss was a result of fall in other income to Rs 13.6 crore in the March quarter from Rs 46.1 crore in the year-ago period and rise in finance cost to Rs 207.8 crore from Rs 186.2 crore in the review period. 
 
McLeod Russel posts Rs 157 crore loss in Q4: McLeod Russel India Ltd has written off a major portion of its investments in the joint venture company D1 Williamson Magor Bio-Fuels Ltd as it finds bio-fuel production in India through jatropha plantations “unsustainable”. “We had entered into a joint venture with D1 Oil for biofuel production though jatropha plantations. We had invested Rs 21 crore in the company and we have written off Rs 15 crore. We feel it is an “unsustainable” venture,” said Mr Kamal Baheti, CFO, McLeod. Dragged down by a drop in production, higher wages and a write-off of Rs 15 crore on its investments, McLeod Russel posted a net loss of Rs 157 crore during the quarter ended March 31, 2012. The loss stood at Rs 123 crore during corresponding quarter last year. Net sales grew by 14% to Rs 253 crore.

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.