Tata Tea net rises 43%

The gross profit of the company has increased to Rs 72.69 crore from Rs 59.46 crore. The provision for taxation amounted to Rs 7.28 crore (Rs 5.49 crore) and for taxation to Rs 15.10 crore (Rs 18.67 crore).

“Tea prices both in the north and in the south have been firm in view of sustained export demand and continuing increase in domestic consumption. Barring unforeseen circumstances, the prospects for the current year are bright,” according to R K Krishna Kumar, vice chairman and managing director. While there was substantial increase in packet tea production, increase in production and sales of instant tea was spectacular. Production increased by over 1 million lbs upto end September. Major buyers of instant tea powders such as `Snapple’ have come back to Tata Tea for their total requirements, according a press release.