Diana Tea eyes 10-15 percent turnover growth

Kolkata, June 23 (IANS) Diana Tea Company Limited (DTCL), an Aares Group company, Saturday said it is eyeing 10 percent to 15 percent increase in its turnover this year.

"Currently, our turnover stands at Rs.51 crore. We are planning 10 percent to 15 percent increase in our turnover in the current year," DTCL managing director S. Singhania told reporters after the company's annual general meeting.

The Kolkata-based company reported a net loss of Rs.6.10 crore for the quarter ended March 2012. For the same period a year ago, the company had posted a net loss of Rs.6.58 crore.

The company said it would exit the packet tea business soon as it has been a loss making category for it.

"We will exit the packet tea business by this year end," Singhania said.

Packet tea of the company was primarily targeted at regular consumers and is available through its network of retailers and wholesalers in north India.