TGBL Q1 net profit jumps 13.2% to Rs 143 crore

Tata Global Beverages (TGBL) today reported an increase of 13.20 per cent in consolidated net profit at Rs 142.97 crore for the first quarter to June, led by improved operating performance.

It had posted a net profit of Rs 126.29 crore in April- June a year ago, TGBL said in a BSE filing.

Revenue from operation was down 1.78 per cent at Rs 1,704.42 crore during the quarter under review as against Rs 1,735.46 crore in the year-ago period.

"The group's consolidated net profit for the quarter at Rs 142 crore increased... due to improved operating performance, higher exceptional income and lower losses from its JV and associates," said TGBL.

It added: "Sales growth during the quarter was muted due to transition to GST in India and phasing of promotions in developed markets."

Its total expenses were down 3.52 per cent at Rs 1,500.36 crore as against Rs 1,555.26 crore in the first quarter of 2016-17.

The stock was at Rs 159.65 on the BSE during afternoon trade, up 2.31 per cent from its previous close.

(This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)