Tata Global Beverage Ltd (TGBL) disclosed a 48.19 per cent rise in consolidated net profit at Rs 108.14 crore for the quarter ended on September 30, 2016, on the back of lower commodity costs and lower spends on new initiatives. The company had clocked a net profit of Rs 72.97 crore in July-September quarter a year ago.
Tata Global’s consolidated total income went down 2.60 per cent to Rs 1,625.97 during the quarter under review as compared to Rs 1,669.45 crore of the same quarter of the previous financial year. Its total expenses were registered at Rs 1,463.74 crore in July-September this year, down by 6.10 per cent versus Rs 1,558.95 crore in the corresponding quarter of last year.
For the quarter, profit from operations at Rs 162 crore is higher by 47 per cent than the same quarter of the last year chiefly due to lower commodity costs and lower spends on new initiatives. It further added that while the underlying business saw volume growth, this was offset by price reductions and adverse effect of currency translation. During the first half of 2016-17, the company’s consolidated net profit was up 47.51 per cent to Rs 234.43 crore as compared to Rs 158.92 crore in the year-ago period. Its total income during the first half of the ongoing financial year was up marginally 0.68 per cent at Rs 3,361.43 crore as against Rs 3,338.58 crore in the same period last year.
Tata Global share price settled at Rs 117.05 on BSE, down 1.06 per cent from previous close. On 16th Nov, Tata Global share price is trading at Rs. 122.00, up by 4 per cent.
Tata Global is analyzed by Dynamic Levels as the top 500 performing stocks for this quarter among the 1700 stocks which are listed on the NSE. For further details on the stock, refer to Tata Global share price history.
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