Tata Global Beverage Ltd (TGBL) today reported a 10.65 per cent increase in consolidated net profit at Rs 154.49 crore for the quarter ended on September 30, 2017, fuelled by higher income and low finance costs.
The company had posted a net profit of Rs 139.62 crore during the same period of previous fiscal, TGBL said in a stock exchange filing.
Revenue from operations during the quarter under review grew 4.34 per cent to Rs 1,692.14 crore as against Rs 1,621.64 crore in the year-ago period.
The company said profit before exceptional items at Rs 208 crore is 23 per cent higher due to improved operating performance, good cost management and lower finance costs.
"The last quarter has seen significant profit growth driven by improved operating performance and good cost management. We will continue to innovate in tea, coffee and water with new blends and beverage experiences," TGBL Managing Director and CEO Ajoy Misra said.
He further said the joint ventures have clocked good growth during the quarter and are steadily expanding.
Total expenses during the quarter stood at Rs 1,517.27 crore as against Rs 1,486.32 crore during the corresponding period previous fiscal.
"The quarter saw a number of new product launches across geographies and continued investment to strengthen our brands," TGBL said.
The stock was trading 1.26 per cent up at Rs 237.50 on BSE.
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