Consolidated net profit during the quarter stood at Rs 84.36 crore against loss of Rs 249.6 crore in corresponding quarter of last fiscal.
If the deal looks favourable, Tata Coffee will be merged into Tata Global Beverages, sources told CNBC-TV18.
In a regulatory filing, Tata Motors said it has called extraordinary general meeting (EGM) on December 22 to consider resolutions moved by their holding company, Tata Sons, seeking removal of Mistry and Wadia.
Ousted Tata Sons Chairman wasn't allowed access to a video clipping of the Tata Global Beverages Board meeting, reports The Economic Times.
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Tata Global Beverages‘ move to replace Cyrus Mistry as Chairman was more to avoid hostility with parent company than performance-based says Independent Director S Santhanakrishnan, one among those who voted Mistry out.
A report in Economic Times says that the meeting was held at Bombay House and lasted for over four hours where discussions on the company's operations and progress were conducted.
After going slow on expansion of Starbucks outlets owing to a host of reasons, including issues with FSSAI, Tata Global Beverages plans to enhance the pace of increasing the network of the coffee chain going forward.
The group will not shy away from global buyout activity and will continue to make significant investments in both existing as well as new businesses, including in the digital space to meet its vision 2025 targets.
The company had clocked a consolidated net profit of Rs 30.31 crore in the year-ago period. However, the total consolidated income of the company during April-June period of current financial year rose to Rs 396.04 crore from Rs 374.52 crore in the same period of last fiscal.
The company had clocked a net profit of Rs 16.32 crore in the same quarter in 2013-14. Total income during the January-March quarter of 2014-15 increased to Rs 450 crore from Rs 397 crore in the same period in 2013-14 fiscal, the company said in a BSE filing.
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Hameed Huq, managing director, Tata Coffee says the company has been benefiting from its five revenue streams- instant coffee, green coffee, pepper, tea and timber.
Ashish Chugh picks two hidden gems(stocks) from the beverage sapce - JayShree Tea, Tata Global Beverage.
Angel Broking has maintained a neutral rating on Tata Global Beverages (TGBL), in its November 25, 2013 research report. "The company is expected to post a CAGR of 9.5 percent and 14.9 percent in its top-line and bottom-line, respectively," says the research report.
Tata Starbucks had launched its first store in Mumbai in October 2012. John Culver, Group President, Starbucks Coffee China and Asia Pacific said the company would continue to invest in India.
Reflecting robust sentiment on Tata Group companies, foreign investors raised their holding in as many as 13 firms, including biggies like TCS, Tata Motors, Tata Steel and Tata Power in the July-September quarter.
Industrial production data for September would be announced on Tuesday. Besides, the data on inflation based on consumer price index (CPI) for October will be unveiled on Tuesday, while wholesale price index (WPI) numbers will come on Friday.
The company's total income from operations rose to Rs 1,813.46 crore during the first quarter, as compared to Rs 1,725.10 crore during the same period of previous fiscal.
The company insists that both JV partners, Tata Global Beverages and Starbucks, are extremely happy with Starbucks' performance and trajectory in India and will be entering new markets in its second year of operation.
Vishal Kshatriya of Edelweiss Securities suggests buying Tata Global Beverage with a target of Rs 175 and Sesa Sterlite with a target of Rs 200-205.
Pankaj Jain of Sunteck Wealthmax advised going short in HPCL August futures with a target price of Rs 171 and IRB Infrastructure August futures with a target price of Rs 62.30.
Post Tata Global Beverages's Q1 numbers, Harish Bhat, MD of the company told CNBC-TV18 that the key growth driver for it was and will continue to be a new product innovation in tea, coffee and water.
Tata Global Beverages today posted 43.68 per cent rise in consolidated net profit at Rs 111.63 crore for the first quarter ended June 30, on account of robust growth across various business verticals.