Tata Teas total income at Rs 1,309 cr; P&G sales rise

Written by feBureau | Agencies | Mumbai | Updated: Feb 1 2009, 04:16am hrs
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Tata Tea Ltd, the world's second largest tea company, on Friday, posted a consolidated net profit of Rs 396.12 crore for the quarter ended December 31, 2008, as compared to Rs 1,292.22 crore for the quarter ended December 31, 2007.

The company's total income increased from Rs 1,148.36 crore for the quarter ended December 31, 2007 to Rs 1,309.99 crore for the quarter ended December 31, 2008.

Announcing the results, Percy T Singaporia, managing director, Tata Tea, said, "The consolidated net profit for the quarter ended December 31, 2008 is lower than the corresponding quarter of the previous year mainly due to the impact of one time profit on sale of investments in Energy Brands Inc."

On a standalone basis, Tata Tea posted a 10% increase in its net profit at Rs 48.3 crore for the quarter ended December 31, 2008, compared to Rs 43.8 crore for the quarter ended December 31, 2007.

According to Singaporia, the standalone income from operations for the quarter was Rs 379 crore, up 23% from the year-ago period, driven by strong performance of the company's branded tea operations. "Profit from operations increased 12% at Rs 44 crore over the corresponding quarter of the previous year," he said.

Tata Tea Ltd has informed the BSE that the board of directors of the company, at its meeting held on January 30, 2009, decided to relocate PT Siganporia, managing director of the company to London, UK, in view of the company's global operations.

Colgate-Palmolive PAT at Rs 77.74 crore

FMCG major Colgate-Palmolive (India) Ltd, on Friday, posted a net profit after tax of Rs 77.74 crore for the quarter ended December 31, 2008, compared to Rs 60.47 crore for the quarter ended December 31, 2007.

The company's total income increased from Rs 390.45 crore for the quarter ended December 31, 2007 to Rs 442.06 crore for the quarter ended December 31, 2008.

According to a spokesperson of Colgate-Palmolive, the growth of 14%, achieved over the same quarter of the previous year, has been led by a steady 14% volume growth in the toothpaste category, with the company maintaining its leadership position at 49.6% market share (Jan '08-Dec '08).

"Major brands such as Colgate Dental Cream, Active Salt, and Cibaca continue to contribute to this consistent growth," he said.

PGHH net profit up 2% at Rs 47.1 crore

FMCG major Procter & Gamble Hygiene and Health Care (PGHH) aid it has recorded a marginal increase of 2% in its profit at Rs 47.1 crore in Q2 FY 09 (quarter ended December 31, 2008) as compared to the same period last year.

The company's net sales in the quarter grew 17% at Rs 226.1 crore as against Rs 194.1 crore in the corresponding quarter last year, the company said in a statement.

During the quarter, PGHH's health care business grew at 15% to Rs 124.2 crore as compared to Rs 108 crore in the same period last year. The growth in the segment was led by Vicks Action 500, Vicks cough drops and Vicks inhaler.

The company's feminine hygiene business also registered a growth with an 18% increase in sales of Whisper sanitary pads at Rs 101.4 crore as compared to Rs 85.6 crore in the same period last year.

Nirma posts a net loss of Rs 7.80 cr

Detergents and soaps maker Nirma said its net loss for December quarter of current fiscal stood at Rs 7.80 crore, while it had a net profit of Rs 84.17 crore in the same quarter a year ago.

However, net sales of the company rose to Rs 739.65 crore in the latest quarter, from Rs 580.23 crore of last year, Nirma said in a filing to the Bombay Stock Exchange. Shares of Nirma closed at Rs 98.35, up 1.39% on the BSE.