Tata Global Beverages (TGBL) on April 23 reported 49.70 percent fall in consolidated net profit at Rs 35.99 crore for the March quarter of 2018-19 financial year.
It posted a profit of Rs 71.56 crore in January-March 2017-18, TGBL said in a BSE filing.
Total income was up at Rs 1,810.69 crore as against Rs 1,714.12 crore in the March quarter of 2017-18.
TGBL, which reported a profit before exceptional items and tax (PBIT) of Rs 161.04 crore during the quarter, said its tax outgo numbers are not comparable.
"Tax expense for the quarter is not comparable to that of the corresponding quarter of the previous year due to one time tax credits which significantly reduced the tax expense for the prior quarter and due to adjustments to deferred tax assets during the current quarter," said TGBL.
TGBL had a tax expense of Rs 58.83 crore during period under review.
Its total expenses in the reported quarter were at Rs 1,649.65 crore as against Rs 1,548.75 crore in the year-ago period.
Revenue from the tea segment of the Tata group firm was up at Rs 1,250.95 crore as against Rs 1,177.24 crore in the year-ago period.
However, TGBL's earning from coffee was down to Rs 281.46 crore as against Rs 286.44 crore.
For the entire 2018-19 fiscal, TGBL reported a consolidated net profit of Rs 456.98 crore, down 17.88 percent, as against Rs 556.50 crore in the previous financial year.
Total revenue for the fiscal stood at Rs 7,408.63 crore as compared to Rs 6,909.50 crore in the previous year.
TGBL stock on April 23 settled at Rs 209.60 on BSE, down 0.26 percent from the previous close.
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