BOOTS-Gaining from Liberalisation

TATA TEA Stiff Competition TATA TEA has turned out poor results for 1986 with a lower gross profit of Rs 19.61 crore against Rs 22,59 crore in the previous year when sales amounted to Rs 127.55 crore against Rs 137.11 crore, reflecting a decline in profit margins. Net profit is considerably lower at Rs 8,36 crore compared to Rs 11.57 crore previously. The directors, however, have maintained dividend at 30 per cent on the increased capital arising from the first conversion of the convertible debentures which are entitled to pro rata dividend from July 1, 1986. The increased quantum of distribution is still covered 3.01 times by earnings as against 4.80 times previously.