Tata Global Q2 net up 51.23% at Rs 180.03 crore
Tata Global's net sales during the quarter under review rose to Rs 1,906.23 crore during the second quarter, as compared to Rs 1,842.57 crore during the same period of previous fiscal.
November 13, 2013 / 11:49 IST
Tata Global Beverage reported 51.23 percent increase in consolidated net profit at Rs 180.03 crore for the second quarter ended September 30, aided by exceptional income.
The company had posted a net profit of Rs 119.04 crore for the same period of previous fiscal, Tata Global Beverage (TGBL) said in a statement. The company's net sales during the quarter under review rose to Rs 1,906.23 crore during the second quarter, as compared to Rs 1,842.57 crore during the same period of previous fiscal. Exceptional income during the quarter was Rs 92.05 crore, the company said. The company also announced merger of its subsidiary, Mount Everest Mineral Water with TGBL. "The boards of directors of Tata Global Beverage (TGBL) and Mount Everest Mineral Water (MEMW) in their respective meetings, approved a proposal to merge MEMW with TGBL," the company said in a statement. "This merger will enable increased operational efficiencies and better synergy between both businesses... The proposed merger will facilitate the growth of the Himalayan natural mineral water brand owned by MEMW," it added. TGBL is a global beverage business and the world's second largest tea company. The group's annual turnover is USD 1.4 billion and it employs over 3,000 people worldwide. Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
