Tata Global Beverages has posted a 36 per cent drop in consolidated net profit at Rs 85.24 crore (Rs 54.21 crore) for the quarter ended March 31. Net sales were up by 10 per cent from Rs 1558.01 crore to Rs 1724.11 crore.
According to Mr Percy Siganporia, Managing Director, Tata Global Beverages, “The profits were lower this quarter due to exceptional items which comprised sales of shares in the previous quarter”.
For the year, consolidated operating income rose by 10 per cent at Rs 6,631 crore, while group consolidated net profit was up by 40 per cent at Rs 356 crore. On a standalone basis, total operating income for the year was up by 12 per cent at Rs 2,035 crore and net profit for the year increased by 68 per cent at Rs 303 crore. “For the year the company witnessed improved operational performance, lower interest cost and effective tax rates. Almost three per cent of the topline growth came from favourable foreign exchange translation impact,'' added Mr Siganporia.
International operations comprise 65 per cent of the company's revenues. Tata Global Beverages claims to be market leader in branded tea segment with a value share of 19.6 per cent and value share of 21.3 per cent.
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