International BusinessTata Tea Q3 net declines 76% to Rs 92 cr
Tata Tea, engaged in tea plantation and processing business, today announced a consolidated net profit of Rs 92.23 crore for the third quarter ended December 31, 2009, down 76.71 per cent over the corresponding period last fiscal.
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The Group had a consolidated net profit of Rs 396.12 crore for the same quarter last year, Tata Tea said in a filing to the Bombay Stock Exchange (BSE).
Consolidated total income of the company increased to Rs 1,554.30 crore for the quarter under review from Rs 1,286.64 crore for the same period previous fiscal.
For the nine-month period ended December 31, 2009, consolidated net profit declined to Rs 360.10 crore from Rs 689.57 crore in the same period last year.
Consolidated total operating income rose to Rs 4,247.65 crore in the nine-month period under review from Rs 3,587.96 crore during the same period last fiscal.
On the standalone basis, net profit after tax declined to Rs 36.75 crore for the December quarter from Rs 48.30 crore in the same period last year.
Standalone total income jumped up to Rs 471.35 crore for the quarter under review from Rs 427.94 crore in the October-December period a year ago.
Shares of Tata Tea closed at Rs 918.85, 1.15 per cent down from previous close on the BSE.