Tata Global Beverages (TGBL) today reported a consolidated net profit of Rs 84.36 crore for the fourth quarter ended March, helped by lower exceptional expenditure.
It had posted a net loss of Rs 249.63 crore in January- March period a year ago, TGBL said in a BSE filing.
TGBL's total income was up 4.08 per cent at Rs 1,691.08 crore during the quarter under review as against Rs 1,624.69 crore in the same quarter of the previous fiscal.
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"PBT and exceptional items at Rs 140 crore are higher by 19 per cent as compared to the corresponding quarter of the previous year despite higher advertising spends. Group consolidated net profit is significantly higher than the prior year due to lower exceptional expenditure in the current year," TGBL said.
TGBL's exceptional expenditure during the quarter was at Rs 42.50 crore as against Rs 314.76 crore.
Its total expenses were up 2.91 per cent to Rs 1,551.32 crore as against Rs 1,507.34 crore in the fourth quarter of FY16.
Revenue from the tea segment of the Tata group firm was up 6.64 per cent to Rs 1,185.27 crore as against Rs 1,111.39 crore in the corresponding period of 2015-16.
However, TGBL's earning from coffee was down 7.07 per cent to Rs 270.34 crore as against Rs 290.92 crore.
For the FY17, TGBL reported a consolidated net profit of Rs 463.65 crore. It had a net loss of Rs 30.25 crore in the previous financial year.
Its total revenue for the fiscal stood at Rs 6,862.65 crore, up 2.14 per cent, as compared to Rs 6,718.54 crore in the previous year.
Meanwhile, in a separate filing, TGBL informed BSE that its board in a meeting held today has recommended an equity dividend of Rs 2.35 per share for the financial year 2016-17.
"The dividend, if approved by the shareholders at the ensuing AGM will be paid on or after July 26, 2017," TGBL informed.
Shares of TGBL ended 0.10 per cent up at Rs 145.60 on BSE.
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