Jay Shree Tea & Industries faces no adverse impact on business due to Covid-19

The company said it made all time record profit in the half yearly results of September, 2020 earlier. Tea Industry though is facing some crop loss.

Nov 20, 2020 03:11 IST India Infoline News Service

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.

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