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Cargill first-quarter profit jumps 66 percent

Oct 4 Global commodities trader Cargill Inc on Tuesday reported a 66.4 percent rise in net quarterly profit, helped by lower beef prices due to increased cattle supplies and renewed demand.

The privately held company said net income rose to $852 million in the first quarter ended August 31 from $512 million a year earlier.

Excluding items, the Minnesota-based company's operating profit rose to $827 million from $611 million a year earlier.

Revenue fell marginally to $27.1 billion from $27.5 billion. (Reporting by Karl Plume in Chicago and Arathy S Nair in Bengaluru)

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