Tata Global Beverages announces steady growth in revenues and increase in Group net profits
Income from Operations for the quarter at Rs 2034 crs, up by 3% at constant exchange rate
Group Net Profit at Rs 78 crs up 25%
Tata Global Beverages Ltd. today announced its results for the quarter ended September 2015. For the quarter, the Company reported an improvement in the group net profit against the corresponding period of the previous year.
Income from operations at Rs 2034 crores increased by 1% as compared to corresponding quarter of the previous year. At previous year exchange rate the increase is 3%. Profit from operations at Rs 112 crs is lower than the corresponding period of the previous year due to higher coffee commodity costs, lower non recurring income and higher spends on new initiatives. However, post the impact of exceptional items the Consolidated Group Net Profit at Rs 78 crs reflects an increase of 25% over the corresponding period of the previous year.
The quarter saw continued focus on innovation and investment behind brands. Building on the success of Tetley Super Green Tea, Tetley in UK announced their latest exciting launch - Tetley Super Fruits. This range of fruity infusions has added health benefits. Tetley Super Fruits Boost has added Vitamin B6 and is available in mouth-watering ‘Blueberry & Raspberry’ and also tangy ‘Cranberry & Elderflower’. Tetley Super Fruits Immune contains Vitamin C and is available in zesty ‘Lemon & Ginger’ and juicy ‘Peach & Orange’. In Canada, a marketing campaign for the Tetley Signature collection was launched, to drive awareness and trial as well as educate consumers on the benefits of the unique drawstring tea bag.
Tata Tea in India relaunched its flagship brand ‘Tata Tea Premium’ across all major cities. The relaunch focused on building awareness of the unique blend- a mix of badi patti (large leaf) and chotti patti (small leaf). Tata Tea also launched Tata Tea Gold mixture, a tea blend crafted specifically for Maharashtra, which is one of the largest tea markets in India.
Mr. Ajoy Misra, Managing Director and CEO of Tata Global Beverages, said – “Consumer tastes in tea are evolving. We’re leveraging this trend by adapting innovations to various market needs. We remain focused on growing our coffee and water businesses. The market environment globally remains challenging. We are meeting these challenges by investing behind our brands and improving operating efficiency.”