Tata Global Beverages declines after weak Q2 earnings

Tata Global Beverages lost 1.33% to Rs 159.50 at 9:23 IST on BSE after consolidated net profit declined 65.31% to Rs 62.45 crore on 4.46% growth in total income to Rs 2053.61 crore in Q2 September 2014 over Q2 September 2013.

The Q2 result was announced after market hours on Wednesday, 5 November 2014.

Meanwhile, the S&P BSE Sensex was up 47.01 points or 0.17% at 27,962.89.

On BSE, so far 85,000 shares were traded in the counter as against average daily volume of 3.12 lakh shares in the past two weeks.

The stock hit a high of Rs 160 and a low of Rs 157.20 so far during the day.

During the quarter, Tata Global Beverages continued to focus on innovation and strengthening its brands across tea, coffee and water.

Mr. Ajoy Misra, Managing Director and CEO of Tata Global Beverages, said, "We will continue to focus on innovations based on strong consumer insight across tea, coffee and water. The last quarter has seen new launches and campaigns across geographies inspite of a challenging market environment. We are committed to growth through further strengthening our brands and strategic alliances".

Tata Global Beverages is a global beverage business. The company has significant interests in tea, coffee and water and is the world's second largest tea company.

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