Tata Global Beverages Consolidated revenue from Operations for the Quarter at Rs 1962 crores is up by 4%
Results for the Quarter ended 31st December 2019
Consolidated revenue from Operations for the Quarter at Rs 1962 crores is up by 4% in
India branded tea business for the quarter is up by 6% in value and 7% in volume terms
Group Net Profit for the Quarter at Rs 136 crores up by 25%
For the quarter, Revenue from operations increased by 3% as compared to corresponding quarter of the previous year driven by improvement in branded and non-branded business. At constant currency revenue growth is 4%.
Profit before tax at Rs 196 Crores is higher by 11% as compared to corresponding quarter of the previous year mainly due to revenue and operational improvement and lower commodity cost partly offset by increased spends behind brands.
Group Consolidated Net Profit is higher by 25% as compared to corresponding quarter of the previous year aided by lower tax rate and improvement in the performance of Associates & Joint Ventures.
Some of the key Business updates are:
For the Quarter, the India branded tea business clocked a growth of 7% in volume and 6% in value terms.
Our national brands saw growth led by Tata Tea Spice Mix, Tata Tea Agni and Tata Tea Premium.
Tata Tea Premium, the flagship brand for the India Business, kicked off its restage with the launch of a localized multi-regional campaign across its core markets. The restage aims to reinforce brand love by evoking regional pride, while emphasizing its national stature.
The UK and US markets launched new products aimed at revitalizing the black tea market. In Canada, we recorded volume growth in branded tea.
Tetley continued its strategic master brand refresh campaign in the UK. The brand is aiming to revitalise the tea category and strengthen its position in tea with the ‘Now we’re talking’ campaign.
Tetley in UK launched an ‘Ethnic’ range of specialty Indian flavoured tea aimed at the South Asian diaspora living in the UK and Europe. The range offers an authentic ‘Desi Chai’ experience in a tea bag format.
Our tea brand in the USA, Good Earth tea, introduced a range of Ayurveda teas to further strengthen its wellness proposition. Good Earth Ayurveda comprises of three caffeine-free teas carefully crafted to help promote balance between mind, body and spirit for holistic well-being.