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Leading Indian tea manufacturer, Tata Tea, has registered a net profit of Rs.258 crore for the second quarter of the 2009-10 fiscal which ended on Sep 30 when compared to the Rs.43.79 crore reported during the similar period last fiscal.
"During the quarter, consequent to a favourable exchange rate movement, there is a notional unrealized gain on translation of short term foreign currency financial assets held by an overseas subsidiary, reversing the trend of unfavourable exchange rate movements experienced during the first quarter of this year," it said.
Wholly-owned subsidiary Tetley of Britain acquired a controlling 51 percent stake in a Russian beverage company with effect from Sep 1, Tata Tea said.
