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Branded products enliven Tata Tea

Mumbai, July 31 (PTI): Tata Tea Ltd has posted a 15.4 per cent rise in net profit for the first quarter ended June 30, this year at Rs 22.33 crore compared with Rs 19.35 crore in the corresponding period last fiscal.

Net income from operations during the period under review was lower at Rs 182.97 crore as against Rs 185.24 crore in the corresponding previous quarter, the company said in a release.

Branded sales volumes were up by two per cent year-on-year with the flagship brand Tata Tea registering a growth of seven per cent in value, it added.

Net profit of Tetley group for the quarter under review was 55 per cent higher at £ 3.4 million. Turnover was £ 57.43 million as against £ 70.63 million last year.

Managing director Homi Khusrokhan said the brand focus continued to have a positive impact on the bottomline. Also treasury management has been a success story and efforts would be continued for cost reduction through that route, he added.

BPCL net up

Bharat Petroleum Corporation Ltd today reported a 30.32 per cent rise in net profit for the first-quarter ended June 30, 2003 at Rs 319.3 crore compared with Rs 245 crore for the same period last fiscal.

Net sales/income during this period was also up at Rs 12,318.2 crore as against Rs 11,079.8 crore last year, the company said in a release here today.

Other income was higher at Rs 79.8 crore compared with Rs 60.8 crore for April-June last fiscal while interest was lower at Rs 33.5 crore (Rs 62.5 crore).

On a consolidated basis net profit for the reporting period was Rs 512.9 crore while net sales was at Rs 14,333.8 crore, it said.

Philips India Q2 dips

Philips India Ltd has posted a lower net profit of Rs 9 crore for the second quarter ended June 30, 2003, compared with Rs 13.4 crore in the same period last fiscal. Total income dropped to Rs 335.3 crore as against Rs 378 crore year-on-year, the company informed the Bombay Stock Exchange.

Voltas net zooms 268%

Voltas Ltd, a Tata group company, has posted a 268 per cent rise in its net profit at Rs 10.19 crore for the first quarter ended June 30, 2003 as against Rs 2.77 crore in the same period last fiscal.

Net sales for the reporting quarter grew by 25 per cent to Rs 380.01 crore from Rs 304.47 crore last year, the company said in a release.

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