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Tata Global Beverages Ltd (TGBL) has posted a 35 per cent decline in its third quarter profit to ₹121 crore compared to ₹186 crore in the corresponding quarter last year. The company’s total income, however, rose 10.52 per cent YoY to ₹1,935.2 crore from ₹1750.94 crore. The company said higher commodity cost, increased spends behind brands and discretionary/one-off items impacted its profits.
Tata Starbucks has clocked a growth of 30 per cent in revenues and now has 136 stores across eight cities in India. NourishCo recorded a growth of 30 per cent in sales during the quarter, with continued focus on the national rollout of Tata Gluco Plus. The stock prices of TGBL dipped by 7.21 per cent to close at ₹185.85 on BSE on Tuesday.
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