Tata Global Beverages Posts Net Profit Of Rs. 106 Crore
With the backing of new product launches and innovative marketing techniques for existing products, Tata Global Beverages has posted a consolidated net profit of Rs. 106.53 crore in the last quarter of the fiscal year 2015-2016. The company posted a net profit of Rs. 3.90 crore during the January-March quarter a year ago.
With the strong presence of the Tetley brand in the green tea segment in the country, it has grown significantly along all key markets in the country. According to the market research firm, Technavio, Tata Global Beverages is named as one of the top six leading vendors in their report on global tea market 2016-2020. TGB’s Tetley Super Green Tea has also shown tremendous growth in the green tea segment of the country. Speaking to DNA India, Ajoy Misra, Managing Director and CEO of 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.”
Tata Global Beverages has also forayed into the branded coffee segment with the launch of its brand — Tata Coffee Grand — last year. The product was released in competition with Nestle’s Nescafe and Hindustan Unilever’s Bru. The launch of the product marked a significant step for the company to enter the branded coffee segment after its previous less than stellar entries with Tata Kaapi, Tata Kafe and Mysore Gold. The revenue during the quarter for TGB’s coffee products was at Rs. 525.83 crore, up by nearly 2%, as compared to previous quarter. Speaking about the company’s foray into new ventures, Misra added, “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.”