Tata Tea Limited records 75 per cent jump in net profit

Kolkata, Jul 28 (UNI) Tata Tea Limited recorded 75 per cent jump in net profit at Rs. 85.39 crore in the first quarter of the current fiscal.

The company's consolidated world wide Income from Operations for the quarter was Rs 1134.69 crores, an improvement by 12 per cent over the preceding year's turnover driven by strong brand performance across all key markets.

Whilst the profit before tax at Rs 129.43 crores increased by 108 per cent, group consolidated profit after tax at Rs 85.39 crores was 75 per cent higher than the corresponding quarter of the previous year.

A company spokesman said that profits had been driven by increases in commodity prices and other input costs and higher level of advertisement expenditure during the quarter.

The stand alone Tata Tea results reported Income from Operations of Rs 314.97 crores, rose approximately by 12 per cent over the corresponding quarter of the previous year.

Tata Tea had earned record profits for the year ended March 31,2008 and declared dividends of 350 per cent-the highest ever in the Company's history in May 2008.

UNI KDG ADG RN1910