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Tata Tea net rises by 16% - Views on News from Equitymaster
 
 
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  • Jan 25, 2000

    Tata Tea net rises by 16%

    Tata Tea has posted a 15.7% increase in net profit for the quarter ended 31st December 1999. The company has suffered a deterioration in operating margins as realisations of tea have been sluggish. The other factors that have cast pressure on the profitability of the company are higher interest expenditure and depreciation costs. An improvement in bottomline can be expected as and when tea prices take an upturn.

    The company is currently embroiled in a marketing war with Hindustan Lever Limited in the packet tea segment. This would lead to a rise in advertising and marketing expenditure.

    Tata Tea is currently in the process of acquiring UK based Tetley. In connection with this, the company will have to either raise debt or equity to fund the acquisitions. While debt will further increase the interest expenditure, and equity issue will dilute earnings.

    (Rs m) 3QFY2000 3QFY1999 Change
    Income from operations 2,330.2 2,041.6 14.1%
    Other Income 125.2 -  
    Expenditure 1,902.6 1,556.3 22.3%
    Interest 66.8 44.9 48.8%
    Depreciation 47.8 36.9 29.5%
    Profit before Tax 438.2 403.5 8.6%
    Tax 113.0 122.5 -7.8%
    Profit after Tax/(Loss) 325.2 281.0 15.7%
    Net profit margin (%) 14.0% 13.8%  

     

     

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