Tata Global Beverages Ltd. have announced their results for the quarter ended 31st December, 2013. Income from Operations for the Quarter stood at Rs. 2081 crores, up by 9% from the corresponding quarter in the previous year. The Group Consolidated Net Profit stood at Rs. 120 crores, up by 49% as compared to the corresponding quarter in the previous year. The increases are on account of favorable foreign exchange, lower tax liability, and improved performance in some key countries and by some associate Companies.

During the quarter, the Holding Company’s overseas subsidiaries sold their stake in a U.S. based functional beverage Company, which investment had been fully impaired in the previous quarter. The consideration for this sale is largely contingent on future performance and restructuring of the business.During the quarter, Tata Global Beverages’ brands of tea, coffee and water continued to create new offerings for millions of consumers across the globe.

Mr. Harish Bhat, Managing Director and CEO of Tata Global Beverages, said – “This has been an exciting quarter for us at Tata Global Beverages. We have relaunched some of our key tea and coffee brands with new products and powerful marketing programs during the quarter, which have entailed significant marketing investments. In a few global markets, we have also faced and responded appropriately to some challenging marketplace conditions, particularly on account of commodity price trends in coffee and significant competitor activity. In our newest category, water, we continue to witness very good growth of our offerings such as Himalayan and Tata Water Plus, through Nourishco, our joint venture with Pepsico.”

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