Tata Global Beverages declined 1.45% to Rs 156.05 at 14:50 IST on BSE after consolidated net profit dropped 29.53% to Rs 84.24 crore on 2.85% rise in total income to Rs 2155.50 crore in Q3 December 2014 over Q3 December 2013.
The Q3 results was announced during market hours today, 30 January 2015.
Meanwhile, the S&P BSE Sensex was down 542.56 points or 1.83% at 29,139.21.
On BSE, so far 4.21 lakh shares were traded in the counter as against average daily volume of 3.11 lakh shares in the past one quarter.
The stock hit a high of Rs 162 and a low of Rs 154.80 so far during the day. The stock had hit a 52-week high of Rs 177.15 on 10 June 2014. The stock had hit a 52-week low of Rs 135.40 on 3 March 2014.
The stock had underperformed the market over the past one month till 29 January 2015, gaining 6.67% compared with Sensex's 8.34% rise. The scrip had also underperformed the market in past one quarter, gaining 0.57% as against Sensex's 9.53% rise.
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The mid-cap FMCG firm has equity capital of Rs 61.84 crore. Face value per share is Re 1.
Tata Global Beverages' income from operations rose 3% to Rs 2144 crore in Q3 December 2014 over Q3 December 2013. Profit from ordinary activities before tax rose 6% to Rs 146 crore in Q3 December 2014 over Q3 December 2013. Both tea and coffee segments performed well, company said. Profit from operations rose 2% to Rs 161 crore in Q3 December 2014 over Q3 December 2013. The decrease in profit from operations is mainly attributable to lower profits in the plantation business due to lower crop available for sale. Net profit is lower mainly on account of one-time tax credit of Rs 46 crore accounted in Q3 December 2013.
The company continues to strengthen its focus on the green tea category and grow its coffee and water businesses.
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