Business Daily from THE HINDU group of publications
Thursday, Jul 27, 2006
Business Daily from THE HINDU group of publications Thursday, Jul 27, 2006 |
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Corporate Results
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Tea
Our Bureau
Mumbai , July 26 Tata Tea has reported a 2.64-per-cent increase in its profit after tax at Rs 44.56 crore for the June quarter against Rs 43.41 crore in the year-ago period. In the year-ago period, the company had an exceptional income of Rs 11 crore on the sale of estates in south India. Profit before interest, depreciation and tax rose by 27 per cent to Rs 55.67 crore. The growth was driven by improved brand profitability, favourable impact of plantation restructuring and higher investment income. Income from operations moved up to Rs 254.35 crore from Rs 236.46 crore. This was higher by eight per cent despite exit from a major part of the south India plantations mainly driven by a strong performance of the branded tea sales, which increased by six per cent and improved export sales. The company's consolidated net profit was lower at Rs 80.07 crore against the year-ago figure of Rs 86.38 crore. Total income consolidated for the quarter was up 12 per cent at Rs 806.37 croreon account of higher branded tea sales in both the domestic and international markets. Shares of Tata Tea gained Rs 20.45 to touch Rs 752.65 on the BSE.
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