Tata Global Beverages Ltd (TGBL) on Tuesday reported a 34.81 per cent decline in its consolidated net profit at Rs 121.32 crore for the third quarter ended December 31, 2018 on account of deferred tax credit. It had posted a net profit of Rs 186.11 crore in October-December period a year ago, TGBL said in a BSE filing.
However, TGBL’s total income was up 10.52 per cent at Rs 1,935.17 crore during the quarter under review as against Rs 1,750.94 crore in the same quarter of the previous fiscal.
“The group net profit for the quarter is lower mainly on account of deferred tax credit of Rs 53 crore recognised in corresponding quarter of the previous year arising on account of changes in US tax legislation reducing the tax rates, and lower share of profits from Associates and Joint Ventures,” said TGBL.
TGBL’s total expenses was at Rs 1,758.93 crore as against Rs 1,532.86 crore, up 14.74 per cent. “The Company has clocked steady revenue growth in the last quarter. Profits have been impacted due to higher commodity costs, increased brand investment and one-off items,” TGBL Managing Director and CEO Ajoy Misra said.
Revenue from the tea segment of the Tata group firm was up 7.56 per cent to Rs 1,389.11 crore as against Rs 1,291.47 crore in the corresponding period of 2017-18. TGBL’s earning from coffee was up 28.83 per cent to Rs 326.25 crore as against Rs 253.23 crore. It further informed that its JV -Tata Starbucks has clocked a growth of 30 per cent in revenues and now operates 136 stores across 8 cities in India. Shares of Tata Global Beverages Ltd were trading at Rs 185 on BSE, down 7.64 per cent from previous close.


Coriander prices fell 0.02 per cent to Rs 6,539 per quintal in futures market on Tuesday as participants reduced positions amid muted domestic as well as exports demand against ample stocks position. Besides, rising arrivals from major producing regions and profit-booking at higher levels weighed on the sentiment.
Amidst the West Bengal Chief Minister Mamata Banerjee’s ‘Save the Constitution’ dharna, which began on Sunday, over the unprecedented face-off with the Centre over CBI versus state police issue, Shiv Sena on Tuesday launched another attack on the Prime Minister Narendra Modi-led government saying that with the Centre taking control of various institutions in the county, the courts, Reserve Bank of India (RBI), the NITI Aayog and Central Bureau of Investigation (CBI) have all lost their prestige in the past few years.
While West Bengal Chief Minister Mamata Banerjee, who is on a sit-in against the CBI’s attempt to question the Kolkata Police Chief in connection with chit fund scams, called the Supreme Court decision a ‘moral victory’, BJP National General Secretary Kailash Vijayvargiya on Tuesday thanked the Supreme Court for ordering no arrest of Kolkata Police Commissioner Rajeev Kumar and directing him to appear before the CBI, saying it was a “victory of democracy” and demanded the resignation of West Bengal Chief Minister Mamata Banerjee.

The recent train derail incident in Bihar killing six passengers and several injured reveals the fact that the increasing number of train accidents is alarming and is also a symptom of the rot within. These are needless deaths, which happen only in India which is really disgusting. In order to prevent the recurrence of such mishaps, the modernisation of safety equipment, the maintenance of track and signals, the re-training and fitness of the staff, especially drivers, their assistants, guards, and those at the stations need to be improved. On the one hand, safety measures are out of place and, on the other, safety awareness is abysmally low among people. How many of us know what to do in cases of emergency? Our Railway Minister needs efficient, adequate and trained staff too, for turning the vision into reality. As evident due to trains derailment and accidents, our country faced a lot of loss the precious lives of passengers, private & public property as well as caused fear in the minds of commuters to refrain from using rail journeys to reach their destination.

