Tata Global Beverages Ltd, formerly known as Tata Tea, today reported a consolidated net profit of Rs 45.56 crore for the quarter ended on June 30.
The company had reported a loss of Rs 19.57 crore for the quarter ended on June 30, 2009, Tata Global Beverages said in a filing to Bombay Stock Exchange.
During the quarter under consideration, the company's net sales rose to Rs 1,373.89 crore, thus registering a 8 per cent growth, as against Rs 1,275.11 crore in corresponding period an year ago.
The company said growth in net sales is due to the higher price realisation in the quarter as compared to the similar period last fiscal.
The name of the company was changed from Tata Tea Ltd to Tata Global Beverages Ltd with effect from July 2, 2010. However, there was no change in the line of business.
The change in name signals the intent of the company to be a truly global firm and to focus on branded beverages business, the company said.
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