Income from Operations for the nine months ended December 2015 at Rs 6145 cr, up by 3% at constant exchange rate
Tata Global Beverages Ltd. today announced its results for the nine months ended December 2015. For the period to date, the Company reported an improvement in the group Income from operations against the corresponding period of the previous year.
Income from operations for the nine months ended at Rs 6145 crores, increased by 3% at constant exchange rate as compared to corresponding period of the previous year. However, for the quarter, Income from operations at Rs 2081 crores, was impacted mainly due to timing of sales in the international markets and currency translation. Profit from operations for the quarter reflects the impact of lower revenues and higher spends in new initiatives and non-recurring items.
We continue to focus on innovation and new product launches. Tata Global Beverages entered the branded instant coffee business in India with Tata Coffee Grand. Sourced primarily from Tata Coffee’s plantations, the product is an innovative blend of the finest coffee powder and decoction crystals. With this market entry, Tata Global Beverages has taken a strategic step to leverage its product, marketing and retail expertise to enter the branded coffee space in India.
The company entered the premium black tea market in India with the launch of Tata Tea Fusion- superior Assam tea which comes with the option of adding a taste enhancer of Kenyan tea or Green tea, to create a customized blend. The product is a first of its kind in India and comes in an exclusive compartmentalized packaging with a dual storage facility, which can store two different types of tea in a single pack, preserving the freshness of each.
In the UK, Tetley Super Green teas- the first functional green teas in the UK with proven health benefits have been awarded ‘Product of the Year 2016’, the world’s largest consumer voted award for product innovation. Eight O’Clock, America’s original gourmet coffee brand, announced the launch of a whole new way to experience their great-tasting coffee. Eight O’Clock’s new Coffee Thins™ are delicious edible treats crafted from 100% whole Arabica coffee beans, capturing the authentic taste that coffee lovers expect. Available in three delicious flavours - The Original, French Vanilla and Hazelnut - they are perfect for coffee enthusiasts.
Himalayan natural mineral water launched its new website in January. Created around the brand’s core proposition of ‘Live Natural,’ the website provides a differentiated space to recharge & reconnect with oneself. Interesting sections such as natural beauty, natural fitness, natural health and natural living help deliver an engaging user experience.
Mr. Ajoy Misra, Managing Director and CEO of Tata Global Beverages, said – “We will continue to focus on white space opportunities globally like we have done with Tata Coffee Grand & Tata Tea Fusion in India, Tetley Supergreen in UK and Map coffee in Australia. The market environment in some overseas markets continues to be challenging due to macro-economic challenges and high competitive intensity. Tata Global Beverages is addressing these challenges by focusing on building strong brands, category expansion, innovation and improved operating efficiencies.”