New Delhi, Nov 14 (PTI) Tata Global Beverage Ltd (TGBL)today reported a 10.65 per cent increase in consolidated netprofit at Rs 154.49 crore for the quarter ended on September30, 2017, fuelled by higher income and low finance costs.
The company had posted a net profit of Rs 139.62 croreduring the same period of previous fiscal, TGBL said in astock exchange filing.
Revenue from operations during the quarter under reviewgrew 4.34 per cent to Rs 1,692.14 crore as against Rs 1,621.64crore in the year-ago period.
The company said profit before exceptional items at Rs208 crore is 23 per cent higher due to improved operatingperformance, good cost management and lower finance costs.
"The last quarter has seen significant profit growthdriven by improved operating performance and good costmanagement. We will continue to innovate in tea, coffee andwater with new blends and beverage experiences," TGBL ManagingDirector and CEO Ajoy Misra said.
He further said the joint ventures have clocked goodgrowth during the quarter and are steadily expanding.
Total expenses during the quarter stood at Rs 1,517.27crore as against Rs 1,486.32 crore during the correspondingperiod previous fiscal.
"The quarter saw a number of new product launches acrossgeographies and continued investment to strengthen ourbrands," TGBL said.
The stock was trading 1.26 per cent up at Rs 237.50 onBSE. PTI PRJMR.
This is unedited, unformatted feed from the Press Trust of India wire.