Tata Global Beverages Q1 net up 44% at Rs 112 cr

Tata Global Beverages Q1 net up 44% at Rs 112 cr New Delhi: Tata Global Beverages Ltd on Thursday posted 43.68 percent rise in consolidated net profit at Rs 111.63 crore for the first quarter ended June 30, on account of robust growth across various business verticals.

The company had posted a net profit of Rs 77.69 crore for the same period of previous fiscal, Tata Global Beverages Ltd (TGBL) said in a statement.

The company's total income from operations rose to Rs 1,813.46 crore during the first quarter, as compared to Rs 1,725.10 crore during the same period of previous fiscal.

"We are happy to report steady growth in a very competitive global market. Growth trends have been quite different across continents, with Europe presenting the most challenging environment," Tata Global Beverages Managing Director and CEO Harish Bhat said.

The company would invest behind its strong portfolio of brands, including Tetley, Tata Tea, Eight O'Clock Coffee, Tata Water Plus and Himalayan water, he added.

TGBL is a global beverage business and the world's second largest tea company. The group's annual turnover is USD 1.4 billion and it employs over 3,000 people worldwide.

Shares of TGBL were trading at Rs 152.75 apiece on the BSE in late afternoon trade, down 4.35 percent from their previous close.

PTI