Unaudited Consolidated Financial Results ( Provisional ) for the three months ended September 30, 2005   Rs in Crores   Three months ended September 30 Three months ended September 30 PreviousYear ended March 31, 2005   2005 2004 2005 2004 Income from Operations 778.81 756.07 1495.50 1463.06 3059.13 Income from Investments(Net) 19.04 12.58 21.64 13.17 17.40 Total Income 797.85 768.65 1517.14 1476.23 3076.53 Total Expenditure 617.26 610.69 1195.73 1185.27 2519.39 Profit before Interest and Depreciation 180.59 157.96 321.41 290.96 557.14 Interest (Net) 24.36 33.37 50.39 64.55 122.76 Gross Profit after Interest but before Depreciation and Taxation 156.23 124.59 271.02 226.41 434.38 Depreciation 18.37 19.55 36.13 38.44 77.85 Profit before Tax and Exceptional Items 137.86 105.04 234.89 187.97 356.53 Exceptional Income / (Expenditure)(Net) (1.97) (0.34) 21.91 (0.66) (42.81) Profit before Tax 135.89 104.70 256.80 187.31 313.72 Provision for Taxation 38.40 31.32 70.98 57.90 93.85 Profit after Tax 97.49 73.38 185.82 129.41 219.87 Share of Profit/(Loss) from Associates 7.58 4.29 7.58 4.29 9.79 Minority Interest 3.86 1.53 5.81 2.64 16.02 Reversal of share of loss of earlier years in respect of an Associate Company divested during the year - - - - 1.83 Group Consolidated Profit 101.21 76.14 187.59 131.06 215.47 Paid up Equity Share Capital (face value of Rs 10 each) 56.22 56.22 56.22 56.22 56.22 EPS before Extraordinary Items (not annualised) - Rs Basic Earning Per Share - Rs 18.00 13.54 33.37 23.31 38.33 Diluted Earning Per Share - Rs 17.31 13.20 31.52 22.31 36.74   Notes:       1. The Consolidated Total Income for the quarter at Rs 797.85 crores was 4% higher than the corresponding quarter of the previous year. The Group Consolidated Net Profit at Rs 101.21 crores was 33% higher than the same period of the previous year.   2. The current quarter's share of profits from associate undertakings includes results of an associate for the quarter ended June 30,2005, as at the time of finalization of the first quarter consolidated results of the Company, approved results of the said associate were not available.   3. Exceptional item during the quarter and the half year represents profit on transfer as a going concern, of a portion of the Holding Company's undertaking comprising of certain estates in South India and is also net off amortization of amounts expended on Employee Separation Scheme in the Holding Company and an Indian subsidiary. The half year also includes a curtailment gain of Rs 15.24 crores (£1.9 m), consequent to closure of The Tetley GB defined benefit scheme.   4. Under Indian GAAP, The Tetley Group's (the Company's 98.58% UK subsidiary) turnover was Rs 489.20 crores for the second quarter of its Financial Year 2005/06 as against Rs 466.75 crores for the corresponding quarter of the preceding year. The Profit before Tax at Rs 43.52 crores and the Profit after Tax at Rs 28.31 crores were higher by 39% and 54%, respectively, over the corresponding quarter of the preceding year.         5 During the half year, The Tetley Group (the Company's 98.58% UK subsidiary) has changed its accounting policy for pension costs to comply with the requirements of FRS 17 which has become mandatory. Consequent to this change an amount of Rs 100.54 crores (£12.9 m), representing an estimate of the scheme deficit under FRS17, has been charged against opening reserves.         6. In October,2005, The Tetley Group (the Company's 98.58% UK subsidiary) has acquired 100% stake in FMALI Herb Inc. and Good Earth Corporation, US Companies which own the Good Earth brand of specialty teas. The acquisition is expected to strengthen the Group's US presence and expand product offering in other markets.         7. Previous period's figures have been regrouped, to the extent necessary, to conform to current period's figures.         8. The aforementioned results were reviewed by the Audit Committee of the Board on October 25, 2005 and subsequently taken on record by the Board of Directors at its meeting held on October 28, 2005. Mumbai: October 28, 2005 Ratan N Tata (Chairman)

Segment wise Revenue, Results and Capital Employed, under Clause 41 of the listing agreement for three months ended September 30, 2005

Notes:

1. The definitions of the internal business segmentation and the activitities encompassed therein are as follows:
   
   Tea :: : Cultivation & manufacture of black tea and instant tea,tea buying / blending and sale of tea in bulk or value added form.
   
   Others ::: Cultivation & production of coffee, other minor crops, trading in commodities etc.
   
   
2. The segment wise revenue, results and capital employed figures relate to the respective amounts directly identifiable to each of the segments. Unallocable expenditure includes expenses incurred on common services at the corporate level and relate to the Company as a whole. Unallocable income includes income from investments and exceptional items.