Tata Tea Ltd has reported a 434 per cent increase in net profit to Rs 18.7 crore for the fourth quarter ended March 31, 2004 as compared to Rs 3.5 crore for the corresponding quarter of the previous fiscal. Total income has increased to Rs 229 crore from Rs 222 crore last year. 

For the year ended March 31, 2004, the company posted a net profit of Rs 91.5 crore as against Rs 70.6 crore last year. Total income has increased to Rs 838 crore from Rs 807 crore in the previous year. 

The board has proposed a dividend of Rs 8.50 per equity share for the year ended March 31, 2004. 

The improvement in the Indian operations was contributed by growth in the sale of the brands and treasury operations partly offset by the losses in the plantations part of the business in India, a Tata Tea release said. 

The company’s consolidated worldwide results reported a 81 per cent increase in net profit to Rs 210 crore over the previous year. 

Turnover grew by five per cent to Rs 3,111 crore over the previous year.