Tata Global Beverages has reported a 53% fall in net profits for FY 2011. Tata Global Beverages owns the popular tea and coffe brands such as Tata Tea and Tetley.
The company made a net profit of Rs 180.5 crore in FY 011 as agains Rs 391 crore profit in the last year. Total income including non operating income increased from Rs 1836 crore to Rs Rs 1914 crore in FY11.
In its filing to the stock exchange the company said operating income grew by 6% to Rs 1811.41 crore. The growth in income was achieved as a result of higher volumes and improved realisation in branded tea operations.
The net profit of Rs 180.5 crore are lower compared to previous year because of lower exceptional income and reflect hardening commodity cost, investment in new initiatives and lower dividend by interest companies.
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