Tata Global Beverages Q4 net up 76.65 percent

Tata Global Beverages Tuesday announced a 76.65 percent rise in its consolidated net profit to Rs.95.76 crore for the quarter ended March 31, 2013, from Rs.54.21 crore for the like period last year.

The firm's income from operations during the fourth quarter last fiscal increased to Rs.1,849.50 crore from Rs.1,738.62 crore for the corresponding period of the previous fiscal, it said in a filing to the BSE.

Income from operations increased by six percent compared to the corresponding period of the previous year, reflecting improved performance coupled with favourable foreign exchange translation impact, the company said in a statement.

The firm continued to make steady progress in the tea, coffee and water categories, through innovation, category expansion and strategic alliances, it added.

For the full year, the group posted a consolidated net profit of Rs.372.75 crore for the year ended March 31, 2013, as compared to Rs.356.14 crore for the year ended March 31, 2012.

Commenting on the results, Harish Bhat, managing director and CEO of Tata Global Beverages, said: "We are very pleased to report yet another quarter of good growth and strong profitability. This has been achieved on the back of strong product innovation in all our three categories, tea, coffee and water."

"Our focus on bringing our consumers delightful new blends continues to remain our topmost priority. The forthcoming quarters will witness many new launches in this direction," added Bhat.