Tata Global Beverages Q2 net profit at Rs 140 crore, up 60 percent year-on-year

Tata Global Beverages on Tuesday reported a 60 per cent rise in consolidated net profit at Rs 140 crore for the quarter ended September 30 compared with Rs 87.21 crore in the year-ago period.  

Shares of Tata Global Beverages surged 5 per cent on BSE in early trade on Wednesday after news of the strong financial results for the September quarter.

For the quarter, income from operations stood at Rs 1,626 crore, which was down 2.57 per cent from Rs 1,669 crore reported for the corresponding period of previous year. 

Profit from operations stood at Rs 162 crore, which was 47 per cent higher than the year-ago period, mainly due to lower commodity costs and lower spends on new initiatives. 

Managing Director and CEO Ajoy Misra in a release said, "The company recorded significant profit growth last quarter despite a challenging market environment. Our product launches leverage the health and wellness trend across geographies. Consumers are seeking enhanced beverage experiences, which are also hea ..