Tata Global Beverages net at Rs 326 crore, up 32%

Tata Global Beverages posted a 32% growth in its net profit in the last fiscal, at Rs 326 crore, a statement from the company said. 

In FY16, income from operations went up 3% to Rs 8,111 crore in constant currency terms and profit from operations was at Rs 532 crore, lower than the previous fiscal on the back of increased spening on new initiatives, new launches and higher competitive intensity in certain key markets, the company said.

The company said that its green tea portfolio has shown growth across key markets, with the Tetley Super Green tea growing significantly. 

In the last fiscal, Tata Global Beverages also entered into the branded coffee segment in India -- Tata Coffee Grand. So far, it has received good response, the company said. 

 “Tata Global Beverages continues to leverage global trends such as health and wellness and convenience through our focus on green tea, entry into branded instant coffee and strengthening our functional waters portfolio," Ajoy Misra, managing director and CEO of the company said. 

"During the year, we have initiated key product launches, strong marketing campaigns and entry into new segments. Innovation, investing behind our brands and managing operational efficiencies will be key to growing in a challenging market environment,” he added.

The company's shares were trading down 1.48% at Rs 119.85, Rs 1.80 lower from previous day's close.