|
|
|
You can get e-magazine links on WhatsApp. Click here
|
|
|
|
|
|
Tata Global Beverages’ revenue for quarter ended September ’17 up by 6%
|
|
Friday, 17 November, 2017, 08 : 00 AM [IST]
|
|
|
For the quarter ended September 2017, Tata Global Beverages’ (TGB) revenue from operations, at Rs 1,692 crore grew by six per cent in underlying currency terms. The company registered profit before exceptional items of Rs 208 crore, which was higher by 23 per cent as compared to the corresponding quarter of the previous year, due to the improved operating performance, good cost management and lower finance costs.
The group’s consolidated net profit for the quarter, at Rs 154 crore, was higher by 11 per cent as compared to the corresponding quarter of the previous year, reflecting higher a profit before exceptional items, partly offset by exceptional expenditure. It has completed the restructuring of its Russia operations, resulting in the recent sale of two of the company’s overseas subsidiaries (Sunty LLC and Tea Trade LLC).
The quarter saw a number of new product launches across geographies, and continued investment to strengthen the company’s brands. In India, there was a strong focus behind the second phase of Tata Tea’s Jaago Re campaign, Alarm Bajne Se Pehle Jaago Re, which was launched earlier this year. The India market is also evaluating the out-of-home beverage space with the recent pilot launch of Tata Cha, its first tea café, in Bengaluru.
In the United Kingdom, Tetley witnessed market share gains, primarily driven by its focus on the non-black tea category. The brand is celebrating its 180th anniversary this year with a series of initiatives to further drive its heritage, quality and expertise credentials. In the Middle-East, two new variants of loose tea - Tetley Strong and Tetley Gold - were launched to further strengthen the brand portfolio.
Tata Starbucks, the joint venture between Tata Global Beverages and Starbucks Coffee Company, celebrated the opening of its 100th store in India, which is located in Mumbai, and its fifth anniversary in India. Eight O’Clock coffee, in the United States, launched Pumpkin Spice, a limited-edition flavour during fall. This medium-roasted flavour captures the essence of the season, with subtle cinnamon spice, maple brown sugar and classic pumpkin.
The water portfolio made good progress during the quarter, driven by volume growth and acquisition of new key accounts. Himalayan, Tata Global Beverages’ premium natural mineral water brand, will now enter the US market in a phased manner, through an agreement signed by its subsidiary with Talking Rain Beverage Company, to distribute and market the brand. This makes Himalayan, which is backed by the trust and credibility of the Tata brand, one of the first premium Indian FMCG brands to target the broader American audience.
Ajoy Misra, managing director and chief executive officer, Tata Global Beverages, said, “We are pursuing an aggressive profitable growth strategy of strengthening our core brands, innovative new launches, category expansion and rationalising non-profitable businesses. The last quarter has seen a significant profit growth driven by improved operating performance and good cost management. We will continue to innovate in tea, coffee and water with new blends and beverage experiences. Our joint ventures have clocked good growth during the quarter and are steadily expanding.”
|
|
|
|
|
|
|
|
|
|