Shares of Tata Global Beverages Ltd (TGBL) surged 7 per cent today after the company reported a 48.19 per cent increase in consolidated net profit for the September quarter.
The stock jumped 7 per cent to Rs 125.25 on BSE.
On NSE, shares of the company climbed 7 per cent to Rs 125.30.
Tata Global Beverage Ltd (TGBL) yesterday reported a 48.19 per cent increase in consolidated net profit at Rs 108.14 crore for the quarter ended September, riding on lower commodity costs and lower spends on new initiatives.
The company had posted a net profit of Rs 72.97 crore in July-September quarter a year ago.
TGBL’s consolidated total income was down 2.60 per cent to Rs 1,625.97 during the quarter under review as against Rs 1,669.45 crore of the corresponding quarter of the previous fiscal.
Meanwhile, in a major escalation of boardroom brawl at Tata Group, Cyrus Mistry was yesterday ousted as chairman of Tata Global Beverages by a majority vote by board members, a move that Mistry slammed as illegal and inaccurate representation of board proceedings.