Tata Global Bev­er­ages Q2 net up 11%

Financial Chronicle - - COMPANIES -

TATA Global Bev­er­ages recorded a net profit for the June-Septem­ber quar­ter at Rs 154 crore, higher by 11 per cent as com­pared to the cor­re­spond­ing quar­ter of the pre­vi­ous year.

Net rev­enues for the quar­ter stood at Rs 1,692 crore, up by 6 per cent from Rs 1621 crore in the com­pa­ra­ble quar­ter in 2016.

Op­er­at­ing prof­its were up by 23 per cent to Rs 208 crore com­pared to the cor­re­spond­ing quar­ter in the pre­vi­ous year, due to im­proved op­er­at­ing per­for­mance, good cost man­age­ment and lower fi­nance costs, the com­pany said in a state­ment. "The com­pany wit­nessed a good per­for­mance in its In­dia busi­ness. While July was a slow month due to GST, Au­gust and Septem­ber saw dou­ble digit growth," L Kr­ish­naku­mar, chief fi­nan­cial of­fi­cer of Tata Global Bev­er­ages told PTI.

The group has com­pleted the re­struc­tur­ing of its Rus­sia op­er­a­tions, re­sult­ing in the sale of two of the com­pany's over­seas sub­sidiaries Sunty LLC and Tea Trade LLC, as on Novem­ber 3.

The quar­ter saw a num­ber of new prod­uct launches across ge­ogra­phies and con­tin­ued in­vest­ment to strengthen our brands.

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