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Tata Global Beverages Ltd on Wednesday said its consolidated net profit rose by 54.69 per cent to Rs 119.04 crore for the second quarter ended September 30, on improved operating performance and robust sales in the coffee business.
The company had posted a net profit of Rs 76.95 crore during the corresponding period of previous fiscal, Tata Global Beverages Ltd (TGBL) said in a statement.
Net sales of the company rose to Rs 1,842.57 crore as against Rs 1,612.03 crore.
Commenting on the results TGBL Managing Director and CEO Harish Bhat said: ”...Key markets have performed well, with constant focus on category expansion, innovation and operating efficiencies.”
He added the company’s strategic alliances with Pepsico and Starbucks have recorded excellent progress.
“I would also like to highlight that, during the quarter, our coffee businesses in India, USA and Russia delivered outstanding results,” Bhat said.
TGBL Group CFO L Krishnakumar said that rupee depreciation also played an important role in the robust performance of the company during the second quarter.
Shares of the company closed at Rs 150.25 on the BSE, down 0.43 per cent from the previous close.
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