Tata Global Beverages Q2 net profit up 49%

Written by fe Bureau | Mumbai | Updated: Oct 29 2011, 07:37am hrs
Tata Global Beverages (TGBL) has posted a 49% increase in its consolidated net profit at R77 crore for the quarter ended September 30, 2011, compared to R51 crore for the same period in the previous financial year.

Percy Siganporia, managing director of TGBL, attributed this to improved operating performance and favourable impact of exceptional items, and lower interest costs which was partially offsetting the impact of commodity cost increases.

The companys total income has increased from R1,474 crore for the September quarter in financial year 2010 to R1,649 crore for the quarter ended September 30, 2011. On a stand alone basis, the company has posted a net profit of R50.4 crore for the quarter ended September 30, 2011, compared to R30 crore for the quarter ended September 30, 2010.

Announcing the results, Siganporia said, Our total operating income for the quarter at R1,630 crore increased by 12% compared to the corresponding period of the previous year, reflecting improved performance in most major markets also aided by the impact of price increases in some markets.

According to Signaporia, the company has achieved market volume leadership with 215%(MAT) and maintains volume leadership with 19.7 % in Q2 financial year 2011 (AC Nielsen). On the companys pricing strategy for Q3 FY12, Siganporia said, I do not think there will be further price hikes this quarter.

Bucking the current trend, the company has performed well in Q2 FY12. In the macro negative environment, it has postedR77 crore net profit, said an industry analyst from a domestic brokerage firm in Mumbai. Shares of TGBL were up 2.05% to close at R89.75 on the BSE on Friday.