Tata Global Beverages Quarter 1 Results -2010/11

CONSOLIDATED: Consolidated Operating Income - Rs 1380 cr up by 7%

Group Consolidated Net Profit - Rs 46 crs compared to a loss of Rs 20 crs in the corresponding quarter of the previous year.

EPS at Re +0.74 against Re -0.32.

STANDALONE: Income from Operations at Rs 454 cr up by 8%

Tata Tea Limited changed to Tata Global Beverages Limited with effect from July 2, 2010. The change affirms our commitment to develop a global branded beverage portfolio. Tata Global Beverages Ltd (formerly Tata Tea Ltd.) announced its results for the quarter ended June 30, 2010 this afternoon.

The Company’s Consolidated total operating income for the quarter at Rs. 1380 crores grew by 7% over the corresponding quarter of the previous year reflecting the continuing impact of price increases and acquisitions offset by adverse exchange rate movements and impact of phasing of promotional sales in key markets. The operating income includes the performance of the Russian Beverage company in which a 51% stake was acquired through a subsidiary during the quarter ended 30th September 2009. The group consolidated net profit at Rs 46 crores is significantly higher as compared to the loss of Rs 20 crores in the corresponding quarter of the previous year as there is no adverse translation impact on overseas subsidiary foreign currency assets. We continue to increase investment in New Product Development to grow our beverage portfolio.

The stand alone Tata Global Beverages Ltd results reported Income from Operations for the quarter at Rs 454 crores reflecting an increase of 8% over the corresponding quarter of the previous year. Profit after tax at Rs 36 crores reflects investment in New Product activity and future growth in widening our beverage portfolio.

Issued by: L Krishnakumar

For further information, contact:
Vaishnavi Corporate Communications
Kolkata, Tel : 033 – 2449-4177 / 2223-5217