Tata Global Beverages is trading higher by 3.3% at Rs 119 on reporting a robust 53% year-on-year (yoy) growth in consolidated operating profit at Rs 181 crore for the quarter ended June 2012.
Tata Group Company engaged in tea and coffee business has posted a consolidated net profit of Rs 77.69 crore for the first quarter ended 30 June 2012. In the year-ago period, the company had a consolidated net profit of Rs 160.92 crore that included a one-time gain of Rs 88.90 crore.
“Total operating profit for the quarter at Rs 1,725 crore was 18% higher than the corresponding quarter of the previous year reflecting improved performance in most major markets coupled with favourable foreign exchange translation impact,” Tata Global Beverages said in a filing.
The stock opened at Rs 115 and hit a high of Rs 120 on the National Stock Exchange. A combined 875,000 shares have changed hands on the counter so far on both the exchanges.
