The Hindu Business Line : Tata Tea Q4 net at Rs 179 cr

Mumbai, May 30 Tata Tea has reported a fourth quarter net profit of Rs 179 crore, against Rs 3.9 crore in the same year-ago quarter. The net profit was much higher due to a one-time profit of Rs 162 crore from transfer of North Indian Plantations Division.

Besides the one-time profit, the company’s performance was driven by an increase in its market share, which rose to 21.6 per cent from 18.9 per cent in value terms.

Among the company’s products, Agni, the economy brand of tea, was the main growth driver for the company this year riding on the Jaago Re campaign, said Ms Sangeeta Talwar, Executive Director, Marketing, Tata Tea. The other brands — Tata Tea Premium and Tata Gold — also fared well.

At EBITDA level, profits rose to Rs 44.56 crore from Rs 18.10 crore. Net sales rose by 9 per cent at Rs 275 crore (Rs 251 crore) while total income increased by 14 per cent at Rs 296 crore (Rs 259 crore), as other income from investments contributed Rs 21 crore (Rs 7.8 crore). The consolidated net profit of the group for the quarter was reported at Rs 113 crore (Rs 52 crore) after deduction of minority interest and share of profit from associates.

The annual net profit for the year-ended March 31 jumped by 248 per cent at Rs 1,542 crore (Rs 443 crore). The UK-based subsidiary Tetley Group reported a profit of Rs 1,607 crore through the sale of stake in Energy Brands Inc to Coca Cola at $1.02 billion in October.

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