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Kochi, Oct. 23

Harrisons Malayalam Ltd, an RPG group company, has posted high turnover and profits during the first half of the current fiscal. The Kerala-based plantation company has achieved a turnover of Rs 89.23 crore for the quarter ending September 30, 2008, registering an increase of 73 per cent over corresponding period last year. The profit after tax has gone up to Rs 7.40 crore as against Rs 2.21 crore in the same period last fiscal. The company has attributed the impressive gr owth in both turnover and profits, this year to higher realisation for tea and rubber coupled with substantial increase in production and better capacity utilisation. The company has posted higher profit despite higher employee cost consequent to latest revision in the wages for tea and rubber workers and other employees, an official release said. Its initiatives to modernise the factories have resulted in higher productivity and improved efficiencies. The company’s continued focus on quality, it claimed, has ensured better average price realisation for its products as compared to industry average.

– Our Bureau

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