Jay Shree Tea & Industries Ltd
informed the exchanges Thursday that the ongoing stages of Covid-19 lockdown and unlock imposed in India from March 24, 2020 had no impact on the business except some crop loss to the Industry.
“Tea being an essential commodity, its prices increased substantially due to shortage of crop. We have released half yearly results of September,2020 earlier, and the company made all time record profit, so virtually there is no adverse impact of Covid-19,” company said.
Jay Shree Tea & Industries posted a net profit of Rs76.67cr in Q2FY21 compared to Rs8.41 in the same period last year. A bump in at-home consumption of tea coupled with lower crop due to Covid-19 disruptions is adding to the bottomline of tea companies.