LOW PRICE REALISATIONS STEALING THE CHEER OUT OF TEA COMPANIES
Article Abstract:
A fall in tea prices has adversely affected the profitability of tea companies in the third quarter of 1998-99. The aggregate et profits of 27 tea companies has fallen by over 22 percent from Rs79.43 crore in the third quarter of 1997-98 to Rs61.71 crore in the third quarter of 1998-99. The aggregate net sales of the companies have also fallen by 4.3 percent from Rs463.68 crore to Rs443.66 crore. Tata Tea, India's largest integrated tea company, saw a 4 percent fall in sales and a 10.1 percent decline in net profit in the third quarter of 1998-99. Other tea majors like AFT Industries, Parry Agro Industries, Gillanders Arbuthnot and Rossel Tea have also registered a fall in net profit. (khr)
Comment:
A fall in tea prices has adversely affected the profitability of tea companies in the third quarter of 1998-99.
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
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TEA BUSINESS POWERS EIIL AHEAD, PAT TRIPLES
Article Abstract:
The net profit of Eveready Industries India Ltd (EIIL) of the Williamson Magor group tripled to Rs45.03 crore in 1997-98 (Rs13.78 crore) due to improved performance by its tea division. Its sales increased by 20 percent to Rs759.77 crore (Rs635.06 crore in 1996-97). EIIL acquired two tea estates in Dooars district of North Bengal-Mathura and Bhatpara. These acquisitions are expected to boost tea production. EIIL also manufactures dry batteries and flashlights. (gsh)
Comment:
Posts sales of Rs759.77 crore, an increase by 20% as compared to Rs635.06 crore in 1996-97
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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BETTER DAYS AHEAD
Article Abstract:
Tata Tea was able to post a net profit of Rs94.5 crore in the first half of 1998-99 mainly due to growth in volumes. The company is expected to show a net profit of about Rs55 crore in the third quarter of 1998-99 and its fourth quarter performance is likely to be even better due to improved unit price realisations and increased volumes. Analysts estimate that the company will register a net profit in the region of Rs205 crore in 1998-99 compared to Rs102.16 crore in 1997-98. (khr)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
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