Tata Global Beverages fell 1.06% to Rs 153.55 at 10:23 IST on BSE after consolidated net profit declined 12.9% to Rs 97.23 crore on 4.2% growth in total income to Rs 1931.10 crore in Q1 June 2014 over Q1 June 2013.
The result was announced after market hours on Monday, 28 July 2014. The stock market was closed on Tuesday, 29 July 2014 on account of Ramzan ID.
Meanwhile, the BSE Sensex was down 26.37 points, or 0.1%, to 25,964.86
On BSE, so far 93,658 shares were traded in the counter, compared with an average volume of 6.28 lakh shares in the past one quarter.
The stock hit a high of Rs 156.50 and a low of Rs 153.20 so far during the day. The stock hit a 52-week high of Rs 177.15 on 10 June 2014. The stock hit a 52-week low of Rs 131.25 on 28 August 2013.
The stock had underperformed the market over the past one month till 28 July 2014, falling 9.19% compared with 3.55% rise in the Sensex. The scrip had also underperformed the market in past one quarter, rising 1.57% as against Sensex's 14.84% rise.
The large-cap company has an equity capital of Rs 61.84 crore. Face value per share is Re 1.
Tata Global Beverages' income from operations rose 5% to Rs 1913 crore in Q1 June 2014 over Q1 June 2013. Profit before exceptional items declined 4% to Rs 169 crore in Q1 June 2014 over Q1 June 2013. While branded business performed well, profitability was impacted by lower crop available for sale in the plantation business and investment in new ventures, Tata Global Beverages said in a statement.
During the quarter, Tata Global Beverages continued to focus on strengthening its brands across tea, coffee and water, the company said in a statement.
Tata Starbucks - a joint venture between Tata Global Beverages and Starbucks has now entered Chennai. There are now 51 Starbucks stores spread across Mumbai, Delhi, Bangalore, Pune and Chennai. The stores continue to witness excellent customer response, Tata Global Beverages said in a statement.
Mr. Ajoy Misra, MD and CEO of Tata Global Beverages said, We are committed to investing behind our brands, in a challenging market environment. Tata Global Beverages is leveraging key consumer trends like health & wellness and convenience to develop and market differentiated product offerings in tea, coffee and water. In addition to organic growth, innovation, category expansion and strategic alliances will drive growth for the business.
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.
Powered by Capital Market - Live News
