Tata Tea net jumps to Rs 1,307 cr

MUMBAI: Tata Tea Ltd on Monday posted over 11-fold rise in net profit at Rs 1,307.31 crore for the quarter ended December 2007 as compared to Rs 117.19 crore in the corresponding quarter last year.

The total income of the group stood at Rs 1,189.65 crore for the quarter under review as against Rs 1,119.32 crore during the same period last year, up 6.3 per cent, the company said in a filing to the BSE.

The standalone profit of the firm decreased 37.5 per cent to Rs 58.88 crore for the reviewed quarter from Rs 94.20 crore in the same period a year ago. Meanwhile, the income grew 34.4 per cent at Rs 401.38 crore for the latest quarter as against Rs 298. 72 crore in the corresponding quarter last year. Shares of the company were trading at Rs 790.60, down 0.35 per cent at the BSE.