Tata Global Beverages Limited (TBGL) has surged 4% to Rs 156 after reporting a healthy 54% year-on-year (yoy) jump in consolidated net profit at Rs 119 crore mainly due to improved operating performance in branded and non branded business and lower finance costs.
“Income from operations came at Rs 1,861 crore up 14% y-o-y reflecting improved performance coupled with favourable foreign exchange translation impact,” Tata Group Company said in a statement.
Commenting on the results TGBL Managing Director and CEO Harish Bhat said: "Key markets have performed well, with constant focus on category expansion, innovation and operating efficiencies."
He added the company's strategic alliances with Pepsico and Starbucks have recorded excellent progress.
The stock opened at Rs 152 and hit a high of Rs 157 on the BSE. A combined 2.76 million shares have already changed hands on the counter so far against an average 2.64 million shares that were traded daily in past two weeks
