Tata group firm Tata Global Beverages today reported a 25.28 per cent rise in its consolidated net profit to Rs 80.26 crore for the quarter ended December 31, 2012, mainly on account of robust sales in tea and coffee verticals. The company had posted a net profit of Rs 64.06 crore for the corresponding period previous fiscal year, it said in a statement.
Consolidated net sales of the company stood at Rs 1,901.99 crore for the quarter under consideration as against Rs 1,793.20 crore for the year ago period. "Tata Tea business in India and US have been main drivers for growth during the quarter," Tata Global Beverages Group CFO L. Krishna Kumar told PTI. Canada business also contributed to a good quarter, he added.
Tata Global Beverages focus on category expansion and innovation in tea, coffee and water continues to yield very good results, the company said. Commenting on the results, Tata Global Beverages MD and CEO Harish Bhat said: " The significant growth in our operating profits is led by an unrelenting focus on margins, costs, innovation and execution."
We are also delighted that our strategic partnerships with Starbucks and PepsiCo have recorded rapid strides during the quarter, he added. Integrated beverage firm Tata Global Beverages has global brands including Tetley and Tata Tea under its banner and has significant interests in tea, coffee and water. It has brand presence in over 40 countries.
Shares of Tata Global Beverages were trading today at Rs 150.15 per scrip in the afternoon trade on BSE, up 4.27 per cent from its previous close.