Tata Global Beverages Net Falls 28% to 69 cr
Tata Global Beverages, on Wednesday, said its consolidated net profit fell 27.6% to .` 69.3 crore in the quarter to March because of higher expenditure on brands, new initiatives and exceptional items. The company, which owns Tata Tea and Tetley brands, said profit before exceptional items stood at .` 150 crore, down 17% over the year-ago quarter. Net sales rose 3% to .` 1,865.6 crore. For the year ended March, the company reported a 5% rise in consolidated revenues at .` 7,737.6 crore. It said net profit rose 29% to .` 481 crore during the year. Shares of Tata Global Beverages slipped 0.03% to .` 156.3 on the Bombay Stock Exchange on Wednesday.