Tata Tea net profit jumps by 54 per cent to Rs 94 crores

Kolkata, Jan 31 (UNI) Despite its exit from most part of the South Indian plantations, Tata Tea has recorded about four per cent growth in its income from operations to Rs 291 crores during the October to December 2006.

During the period, the operating profits stood at at Rs 48.48 crores, up by six per cent, the highest in 5th consecutive quarter.

The Profit before Tax and exceptional items at Rs 44.02 crores was lower than Rs 48.94 crores in the preceeding year's corresponding quarter due to interest on borrowings for acquisition at Rs 12.41 crores on account of a bridge loan taken to finance the acquisition of Energy Brands Inc.

Exceptional income during the quarter represents profit on sale of investments of Rs 63.54 crores net of amortisation on Employee Separation Scheme of Rs 2.19 crores.

The Company's Consolidated world wide Income from Operations for the third quarter was Rs 1113 crores, an increase by 37 per cent over the preceeding year's turnover for the corresponding period driven by higher branded tea sales coupled with the inclusion of income pertaining to the acquisition of Jemca and Eight O Clock Coffee.

UNI