Tata tea profits fall

Tata Tea, which owns the Tetley Tea brand, has seen its full-year profits plummet by 56%.

The Kolkata-based company posted net profit after tax (PAT) of Rs 831.90 crore from Rs 1,905.88 crore (= Rs 190,588m = £ 2.42bn) year.

Consolidated total income increased to Rs 4,907.30 crore in the year from Rs 4,375.97 crore in the previous year.

Standalone total income of the company rose to Rs 1,524.64 crore in the year under review from Rs 1,263.29 crore during the last fiscal.

A Tata Tea plantation near Munna

The board of directors recommended a dividend of Rs 17.50 per equity share of Rs 10 each, fully paid, in respect of the financial year 2008-09, it said.

However, Tata tea said the figures are not comparable since the company had a one-time gain of Rs 1,607.52 crore through the sale of its stake in Energy Brands during the previous fiscal.