TGBL net profit down 6.55% in Q1

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Kolkata, Aug 1 (IANS) Tata Global Beverages Ltd (TGBL) on Wednesday reported a 6.55 per cent decrease in its consolidated net profit for the quarter ended June 30, 2018 as compared to Rs 142.97 crore in the year-ago period.

Its revenue from operations for the quarter was at Rs 1,802.59 crore, up by nearly 6 per cent from Rs 1,704.42 crore in the year-ago period.

For the quarter, revenue from branded business increased by 7 per cent and after excluding the impact of business restructuring and at constant currency the increase was 8 per cent, as compared to the corresponding quarter of the previous year.

However, non branded sales were lower than the corresponding quarter of previous year, a statement said.

“Last quarter saw a number of new product launches focused on the health and wellness and convenience trends. We have seen steady growth in operating profits, aided by improvement in our operating performance,” company’s Managing Director and CEO Ajoy Misra said.

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He also said, “Our JVs and associate companies have performed well. We will continue to focus on aggressive profitable growth through base business rejuvenation, innovation and cost effectiveness.”

–IANS

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