Tata Global Beverages net plunges 65% to Rs 62 crore

Net sales up 3% to Rs 1,964 cr during the quarter

Tata Global Beverages Ltd on Thursday reported a 65 per cent decline in its consolidated net profit to Rs 62 crore for the quarter ended September.

The company had posted a net profit of Rs 180 crore for the same period previous financial year, aided by the exceptional income of Rs 92 crore.

The net sales during the quarter were Rs 1,964 crore, up three per cent, compared to Rs 1,906 crore during the same period in the previous financial year, Tata Global Beverages said in a BSE filing.

Managing Director and Chief Executive Officer Ajoy Misra said, "We will continue to focus on innovations based on strong consumer insight across tea, coffee and water.

“The September quarter has seen launches and campaigns across geographies inspite of a challenging market environment."