Harrisons Malayalam Reports Q1 Profit of ₹596.29 Lakh, Appoints New Chairperson
Harrisons Malayalam, a leading South Indian tea and rubber producer, has announced significant board changes and positive Q1 results. Ms. Rusha Mitra has been appointed as Chairperson and reappointed as an Independent Director. The company reported a net profit of ₹596.29 lakh in Q1 FY2025-26, compared to a loss in the previous year. Revenue from operations increased by 19.25% to ₹11,645.94 lakh. Both tea and rubber segments contributed positively to the results.
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Harrisons Malayalam , a leading producer of tea and rubber in South India, has announced significant board appointments and positive financial results for the quarter ended June 30.
Key Board Appointments
The company's board has approved the appointment of Ms. Rusha Mitra as the Chairperson of the Board, effective from August 08 till October 1. Ms. Mitra, a law graduate from W.B. National University of Juridical Sciences, Kolkata, and a partner at Khaitan & Co., has also been reappointed as an Independent Director for a second five-year term starting February 11, subject to shareholder approval at the upcoming Annual General Meeting (AGM).
Ms. Mitra brings extensive expertise in corporate restructuring, mergers, acquisitions, and a wide range of corporate law matters, including insolvency and bankruptcy.
Q1 Financial Performance
Harrisons Malayalam has reported a robust financial performance for the first quarter:
| Particulars (₹ in Lakhs) | Q1 FY2025-26 | Q1 FY2024-25 | YoY Change |
|---|---|---|---|
| Revenue from Operations | 11,645.94 | 9,765.85 | +19.25% |
| Total Income | 11,925.12 | 10,109.70 | +17.96% |
| Profit Before Tax | 596.29 | (561.43) | - |
| Net Profit | 596.29 | (561.43) | - |
The company has shown a significant turnaround, reporting a consolidated net profit of ₹596.29 lakh for Q1, compared to a loss of ₹561.43 lakh in the same quarter of the previous year. Revenue from operations increased by 19.25% year-on-year to ₹11,645.94 lakh.
Segment-wise Performance
Harrisons Malayalam's core business segments, tea and rubber, both contributed positively to the quarterly results:
- Tea Segment: Revenue of ₹5,739.74 lakh with a segment result of ₹384.35 lakh
- Rubber Segment: Revenue of ₹5,886.28 lakh with a segment result of ₹514.87 lakh
Other Key Developments
- The company has appointed M/s. SEP & Associates, Practising Company Secretaries, as Secretarial Auditors for a period of five consecutive years, subject to shareholder approval.
- The 48th Annual General Meeting will be convened as per the directives and circulars issued by the relevant authorities, with details to be communicated separately.
Conclusion
Harrisons Malayalam, with its plantation estates in Kerala and Tamil Nadu, continues to be a significant player in the tea and rubber industries. The company's ability to turn a profit this quarter, despite challenging market conditions, demonstrates resilience and effective management strategies. Investors and stakeholders will be keenly watching how these new appointments and positive financial trends will shape the company's future growth and market position in the coming quarters.
Historical Stock Returns for Harrisons Malayalam
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -0.39% | -1.60% | -4.69% | +12.55% | -8.52% | +120.74% |
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