The company plans to test launch a total of four pilot stores in Bengaluru to evaluate the consumer proposition and business model, Tata Global Beverages Ltd (TGBL) said in a regulatory filing.
The net revenues for the first quarter stood at Rs 1718.76 crore, down marginally from Rs 1756 crore in the comparable quarter last year
It had posted a net profit of Rs 60.46 crore in October-December a year ago, TGBL said in a BSE filing.
A day after Cyrus Mistry quit from six Tata group firms, Independent Director Analjit Singh, who was supporting the ousted Chairman, resigned from the board of Tata Global Beverages Ltd.
TGBL, world's second largest player in the branded tea category has entered the branded coffee space at a time when coffee consumption has started rising rapidly across India.
Tata Global Beverage today reported 29.53 percent decline in its consolidated net profit at Rs 84.24 crore for the third quarter ended December 31, 2014, due to tax credit of previous year.
Brokerage house GEPL Capital is bullish on Tata Global Beverage (TGBL) and has recommended buy rating on the stock with a target price of Rs 180 in its October 10, 2013 research report.
Way2Wealth is bullish on Tata Global Beverage and has recommended accumulate rating on the stock, in its research report dated September 06, 2013.
Tata Global Beverages today said Cyrus P Mistry has been appointed as director on its board with effect from today.
Angel Broking is bullish on Tata Global Beverages (TGBL) and has recommended buy rating on the stock with a target price of Rs 97 in its December 19, 2011 research report.