Tata Tea Q2 net profit rises to 287.44 cr

Written by Agencies | Mumbai | Updated: Oct 28 2009, 22:30pm hrs
Tata Tea today said its consolidated net profit rose by 32 per cent to Rs 287.44 crore for the second quarter ended September 30, 2009, over the same period last fiscal.

Total income rose to Rs 1,425.56 crore in the latest quarter against Rs 1,209 crore in the same period last year, Tata Tea said in a filing to the Bombay Stock Exchange.

On the standalone basis, the company has posted a net profit of Rs 258.04 crore in the quarter under review, registering a five-fold increase from Rs 43.79 crore in the year-ago period.

During the quarter, the company increased its stake in one of its subsidiaries, Mount Everest Mineral Water Ltd, to 40.27 per cent from 40.11 per cent, the filing added.

Consequent to the sale of shares in Rallis India on August 20 this year, it ceased to be an associate of the company, it said.

Shares of Tata Tea were trading at Rs 840.55 on the BSE, up 1.07 per cent from its previous close.