Tejon Ranch 2nd-Quarter Profit Increases 31%

Tejon Ranch Co. in Lebec said its second-quarter profit rose 31% from a year earlier on a 70% jump in revenue.

The company, which has interests in livestock, farming and oil production, said net income in the quarter ended June 30 rose to $427,000 from $327,000 a year earlier. Its revenue climbed to $5.04 million from $2.96 million.

Increased cattle sales in the latest quarter offset lower oil, mineral, commercial lease and farming revenues, said Tejon Ranch, which is 25% owned by Times Mirror Co., publisher of the Los Angeles Times.

For the first half of 1992, Tejon Ranch’s profit fell 40%, to $364,000 from $608,000 a year earlier, and its six-month revenue rose 21%, to $6.72 million from $5.55 million.