The Hindu Business Line : Tata Tea Q4 net down 25 pc

Tata Tea Ltd today reported a 25.20-per cent dip in 2005-06 fourth quarter profit after tax to Rs 19.32 crore from the previous corresponding Rs 25.83 crore.

At a press briefing, top company officials attributed this to the now absent income from south Indian plantations, lower other income for the quarter and higher taxation.

Income from operations was 0.61 per cent lower at Rs 219.07 crore (Rs 220.41 for the year-ago period).

In segment reporting, the company showed marginally higher Q4 tea revenue at Rs 218.58 crore (Rs 217.88 crore).

For the whole fiscal, Tata Tea showed 44.99 per cent growth in profit after tax to Rs 186.93 crore (Rs 128.92 crore) on 9.16 per cent rise in income from operations to Rs 982.05 crore (Rs 899.63 crore).

120% dividend

The board has recommended dividend of 120 per cent (100 per cent).

At a consolidated level including the Tetley business, it reported 39.02 per cent rise in net profit to Rs 299.15 crore (Rs 215.17 crore) on 2.12 per cent increase in income from operations to Rs 3,123.92 crore (Rs 3,059.13 crore).

The company's domestic branded tea business grew by eight per cent.

Tetley's share

Tetley had 30 per cent-share in the Indian tea bags market.

In its main UK market, Tetley had 26.2 per cent market share. It also successfully test marketed its iced tea there.

In Canada, Tetley reported 46.3 per cent market share in black tea and 32 per cent share in the product segment of `Tetley Chai' within mere nine months of launch.

More Stories on : Financial Performance | Tea | Tata Tea Ltd

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