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Tata Global Beverages has reported a 29 per cent decline in consolidated net profit from ₹119.55 crore to ₹84.24 crore for the quarter ending December 31, 2014. Though the income from operations increased 3 per cent, from ₹2,080 crore to ₹2,144 crore, the consolidated profit dropped on account of a tax credit of ₹46 crore, accounted for in the corresponding quarter of the previous year.
Profit from operations, at ₹161 crore, was 2 per cent lower than in the previous quarter. Ajoy Mishra, Managing Director and CEO, said: “The total tea category is growing at 4-5 per cent while the green tea category is growing at 30 per cent.”
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