Tata Global Beverage Q1 up 52% at Rs 119.52 crore

Tata Global Beverage (TGBL) on Tuesday reported 51.94 per cent increase in consolidated net profit at Rs 119.52 crore for the first quarter ended June 30, riding on improvements in both branded and non-branded operations.

The company had posted a net profit of Rs 78.66 crore in April-June quarter a year ago, TGBL said in a BSE filing.

TGBL's consolidated net sales during the quarter under review was up 3.84 per cent to Rs 1,711.48 crore as against Rs 1,648.12 crore of the corresponding quarter of the previous fiscal.

Its total expenses were at Rs 1,531.97 crore, up 0.84 per cent, as against Rs 1,519.18 crore of the Q1 FY16.

TGBL Managing Director and CEO Ajoy Misra said: "We have recorded steady growth in a challenging market environment. We continue to strengthen our brands and grow them, based on strong consumer insights while maintaining focus on operational efficiencies".