Tata Tea nets Rs 313 crore in last financial year

Written by Corporate Bureau | Mumbai, May 30 | Updated: May 31 2008, 06:09am hrs
Tata Tea Ltd, the world's second largest tea company, on Friday reported a net profit of Rs 312.8 crore for the year ended March 31, 2008 where as the same was at Rs 306.5 crore for the year ended March 31, 2007, a marginal increase of 2%. The company's total income stood at Rs 1,263.2 crore for the year ended March 31, 2008 whereas the same was at Rs 1,146.1 crore for the year ended March 31, 2007.

Announcing the results, Percy Siganporia, managing director, Tata Tea Ltd, said, "Our income from operations for the year at Rs 1,153 crore grew by 8 % over the previous year despite the transfer of North India Plantation. Improvement has been driven by strong branded tea performance." The Tata Tea stock was marginally up 0.61% to close at Rs 863.50 on the Bombay Stock Exchange on Friday. The results were announced after market hours.

The group has posted a consolidated net profit of Rs 1542.55 crore for the year ended March 31, 2008 whereas the same was at Rs 443.35 crore for the year ended March 31, 2007. Total income is Rs 4432.01 crore for the year ended March 31, 2008 whereas the same was at Rs 4,103.22 crore for the year ended March 31, 2007. Previous period's figures have been rearranged to the extent necessary, to conform to the current period's figures. These figures are strictly not comparable with the figures reported in the current year, due to the transfer of North India Plantation Division (NIPD) during the current year.

Figures for the nine months ended December 31, 2007 have been restated to exclude NIPD consequent to its transfer to Amalgamated Plantations Pvt Ltd (APPL), the company said.