Kamal Baheti, chief financial officer, McLeod Russel hopes to achieve over 20 percent topline growth in FY14.
Kamal Baheti, CFO, Mcleod Russel expects tea price to rise by Rs 15-20 per kilogram going forward.
Kamal Baheti, CFO, McLeod Russel, says that he expect prices will continue to high next year. He expect both the top-line and bottom-line to increase going forward.
Kamal Baheti, chief financial officer, McLeod Russel says normally, the fourth and third quarter are little overpriced as compared to the first and second quarter because the quality of the tea at the end of the season is a bit lower. "For the rest of the season, we expect strong prices to continue," he adds.
The largest bulk tea company in the world, McLeod Russel reported a marginal increase of 3% in its net profit at Rs 230.31 crore for the second-quarter. Kamal Baheti, CFO, McLeod Russel told CNBC TV-18 the reasons for low production in Q2 and why a further wage hike will not hamper the profits of the company.
Kamal Baheti, chief financial officer of McLeod Russel says, crop loss in Q1 impacted performance. He expects performance to improve in Q2, Q3.
Kamal Baheti, CFO of McLeod Russel told CNBC-TV18 that shortfall in tea production for the rest of the year was unlikely to get covered. He expects tea prices increase of Rs 25-30/kg to continue for the rest of the year.
In an interview with CNBC-TV18, Aditya Khaitan, MD, Mcleod Russel said that the crop loss has resulted in an increased price of tea. However, going into FY13, the company has a positive outlook and expects to increase sales on the back of rising demand.
In an interview with CNBC-TV18, Kamal Baheti, CFO of McLeod Russel said the company is considering opportunities for acquisition in Africa.