Tuesday, October 28, 2008

A few Indian companies doing real good !

Mainly the Tata group of companies..I've been noticing.

Tata Tea , as well as Tata Power ...in these times of trouble.

Following source article is Business Standard :

"Tata Tea, the world’s second largest branded tea company, said its profit more than tripled because of a one-time gain from forex fluctuation arising out of an overseas deposit made from the sale of a 25 per cent stake in Glaceau.

The profit of the company rose to Rs 229 crore in the three months ended September 30, from Rs 68 crore for the corresponding period last year. The company earned $1 billion last year from selling its stake in Glaceau to Coca-Cola.

The company had earlier said that the money from the sale of Glaceau would be used for retiring debt for the deal ($427 million), other debt on its books and acquisition of beverage companies in the US. "Determining net profit without these gains is difficult and would be inaccurate as we have reported consolidated gains from all our international businesses," said R K Krishna Kumar, vice-chairman, Tata Tea. Signalling troubled times, Tata Tea said its operating profit dropped to Rs 127 crore from Rs 144 crore."

My take : This only shows the LONG-TERM WISDOM of some group of companies...who will ride out the strom irregardless of the BSE troughs..

Read in a leading newspaper..that RJ Tata will benefit irregardless of WHO COMES TO POWER IN THE U.S. That is the mind of a genius.

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