Tata Global Beverages has posted a 43.68 per cent
rise in consolidated net profit for the first quarter ended June 30, on account of robust growth across various business verticals.
The company reported a net profit of Rs 111.63 crore for the April-June quarter, against Rs 77.69 crore for the same period previous financial year.
In a statement, Tata Global Beverages said its total income from operations rose to Rs 1,813.46 crore during the first quarter, compared to Rs 1,725.10 crore during the same period of previous financial year.
"We are happy to report steady growth in a very competitive global market. Growth trends have been quite different across continents, with Europe presenting the most challenging environment," Tata Global Beverages Managing Director and CEO Harish Bhat said.
The company is a global beverage business and the world's second largest tea company. The group's annual turnover is $1.4 billion and it employs over 3,000 people worldwide.
Bhat said the company would invest behind its strong portfolio of brands, including Tetley, Tata Tea, Eight O'Clock Coffee, Tata Water Plus and Himalayan water.
Shares of Tata Global Beverages closed 7.83 per cent lower at Rs 147.20 on the Bombay Stock Exchange.
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