Corporate Results
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Tea
Tata Tea PAT up 17 pc at Rs 62 cr
Our Bureau
Mumbai
,
Oct. 28
TATA Tea Ltd (TTL) on Friday reported a 17.27 per cent rise in profit after tax for the quarter ended September 30, to Rs 62.39 crore from Rs 53.20 crore in the corresponding period last year. Income from operations moved up by 1.82 per cent to Rs 239.20 crore (Rs 234.91 crore).
For the first half of 2005-2006, the company posted a 39.06 per cent increase in profit after tax to Rs 105.20 crore (Rs 75.65 crore), on a 4.94 per cent gain in income from operations to Rs 462.42 crore (Rs 440.66 crore).
At a consolidated level, including its 98.58 per cent subsidiary Tetley, TTL registered a 32.86 per cent growth in profit after tax for the just ended quarter to Rs 97.49 crore (Rs 73.38 crore), on a three per cent rise in income from operations to Rs 778.81 crore (Rs 756.07 crore). For the first half, the company showed a 43.59 per cent increase in profit after tax to Rs 185.82 crore (Rs 129.41 crore), on a 2.22 per cent gain in income from operations to Rs 1495.50 crore (Rs 1463.06 crore).
At a press conference senior TTL officials pointed out that the good stand alone results were despite the restructuring at South Indian plantations, which brought down costs but also lopped off some revenue. "There was a 15 per cent brand value increase for the Tata Tea portfolio year-on-year," said Mr P. Siganporia, Managing Director, TTL.
Tetley Group's profit after tax was higher by 54 per cent at Rs 28.31 for the second quarter. Income from operations was Rs 489.20 crore (Rs 466.75 crore).
The shares of Tata Tea ended unchanged at Rs 720, on the BSE.
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