Tea and coffee major Tata Global Beverages Ltd (TGBL) has reported a jump of over two-fold in its consolidated net profit after taxes (PAT) at Rs 144.54 crore for the third quarter ended December 31, 2016.
“The consolidated net profit of the company stood at Rs 65.94 crore during the same period a year ago,” Tata Global Beverages Ltd said in a filing to the Bombay Stock Exchange.
It’s consolidated total income grew marginally by 2.9 per cent to Rs 1,758.16 crore during Q3 2016-17, as compared to Rs 1,708.95 crore during the same period last year.
Commenting on the performance, Tata Global Beverages Ltd, MD and CEO, Ajoy Misra said, “The company recorded significant profit growth last quarter despite higher spends behind brands. Tata Global Beverages is leveraging consumer insights to create magical beverage moments for our consumers. Whether it is capturing white spaces in target markets or strengthening our key brands further, our product and marketing initiatives aim to break clutter and enhance the consumer experience. Along with our tea portfolio, we are focusing on steadily scaling our coffee and water portfolio by creating differentiated brands in these categories.”
Meanwhile, shares of the company were trading at Rs 136.40 apiece, up 4.72 per cent, from previous close on BSE at 12:06 hours.