Tata Tea turnover at Rs 1,135 crore, up by 12%

Kolkata, Jul 28 (UNI) The Tata Tea Limited has recorded its consolidated income at Rs 1,134.69 crore for the quarter ended June, 2008, an improvement of approximately 12 per cent from the last fiscal.

A Tata Tea release issued here today stated that the Profit Before Tax at Rs 129.43 crore increased by 108 per cent while the 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 the profits had been impacted by increase 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 at Rs 314.97 crores, an improvement of approximately 12 per cent over the corresponding quarter of the previous year.

Besides, the Profit Before Tax and exceptionals at Rs 56.75 crore had improved by three per cent despite hardening of commodity prices and inflation-led increases in other input costs, compared to the corresponding period of the previous year.

However, the Profit After Tax at 37.71 crore was lower than the previous year due to exceptional income in the previous year and higher effective tax rate in the current 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.

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