The company's net sales during the quarter under review rose marginally by 3.02 percent to Rs 1,865.69 crore during the fourth quarter, as compared to Rs 1,810.89 crore during the same period of previous fiscal.
Shares of Tata Global Beverages dropped 5 percent intraday on Thursday as its net profit declined 27.63 percent decline to Rs 69.3 crore in March quarter. The company had posted a net profit of Rs 95.76 crore for the same period of previous fiscal.
The company's net sales during the quarter under review rose marginally by 3.02 percent to Rs 1,865.69 crore during the fourth quarter, as compared to Rs 1,810.89 crore during the same period of previous fiscal.
"Decline in net profit largely due to higher expenditure on brands, new initiatives and exceptional items. Exceptional costs are due to one time restructuring costs," CFO L Krishnakumar said.
At 13:49 hrs, the stock was quoting at Rs 149.55, down Rs 6.70, or 4.29 percent on the BSE.
(With inputs from PTI)
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