Tata Global Beverages Ltd (TGBL) on Friday reported a 40 per cent rise in itss consolidated net profit to Rs 71.56 crore in the quarter ended March 31, 2018, as compared to Rs 51.12 crore in the year-ago period.
For the quarter, after excluding the impact of sales and restructuring of the group's businesses, revenue from operations increased by 4 per cent in constant currency on a comparable basis.
In a regulatory filing, the company said the profit for the branded business segment, for the quarter, grew by 19 per cent while profit before exceptional items at Rs 129 crore was lower 7 per cent as compared to corresponding quarter of the previous year, mainly due to the adverse performance of non-branded business.
Group consolidated net profit for 2017-18 at Rs 557 crore was higher by 22 per cent as compared to the previous year.
"Whist operating performance from the branded segment was 18 per cent higher, profits from the non-branded segment were lower due to adverse impact of abnormal and extreme weather conditions resulting in substantially lower coffee crop harvested. This was further accentuated by lower commodity prices," the company said in a statement.
Company's Managing Director and CEO Ajoy Misra said: "Over the last year, we've focused on streamlining the organisation for better agility and business performance. We remain focused on base business rejuvenation through brand building, category expansion and enhancing distribution reach.
"We continue to explore new opportunities through our pilot projects such as Tata Cha, products in the RTD segment and entering new categories like Tetley Squash."
In the water segment, its premium offering Himalayan natural mineral water is entering the US in a phased manner, through an agreement signed by its subsidiary with Talking Rain Beverage Company. In India, the brand launched its flavoured water variant, Orchard Pure.
--IANS
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