Mumbai, Nov 14 (PTI) Tata Global Beverages recorded anet profit for the June-September quarter at Rs 154 crorehigher by 11 per cent as compared to the corresponding quarterof the previous year.
Net revenues for the quarter stood at Rs 1,692 crore,up by 6 per cent from Rs 1621 crore in the comparable quarterin 2016.
Operating profits were up by 23 per cent to Rs 208crore compared to the corresponding quarter in the previousyear, due to improved operating performance, good costmanagement and lower finance costs, the company said in astatement.
"The company witnessed a good performance in its Indiabusiness. While July was a slow month due to GST, August andSeptember saw double digit growth," L Krishnakumar, chieffinancial officer of Tata Global Beverages told PTI.
The Group has completed the restructuring of itsRussia operations, resulting in the sale of two of thecompany's overseas subsidiaries Sunty LLC and Tea Trade LLC,as on November 3.
The quarter saw a number of new product launchesacross geographies and continued investment tostrengthen our brands. The company will continue to innovatein tea, coffee and water with new blends and beverageexperiences, it said. PTI DSKNRB.
This is unedited, unformatted feed from the Press Trust of India wire.