Tata Tea Q2 net up by 160 per cent

Mumbai: Tata Tea Ltd has posted a profit after tax of Rs163.92 crore for the second quarter ended September 2006 against Rs62.92 crore during the corresponding quarter of the previous financial year.

Total income for the quarter was higher at Rs322.78 crore compared with Rs279.57 crore in the same period previous fiscal.

Net profit (including Rs66 crore one-time gains) was up at Rs194 crore from Rs97.5 crore in the same quarter the previous year, beating analysts'' expectations that the company''s net profit would go up 11.7 per cent to Rs108.9 crore.

The company made a one-time gain of Rs66 crore from plantation sale.

Net sales were seen going up 10.9 per cent at Rs863.9 crore from Rs778.8 crore.

Operating profit was up 9.6 per cent at Rs177.1 crore from Rs161.6 crore.