Tata Global Beverages reports decline in profit to Rs 411 crore in FY 19

Mumbai: Tata Global Beverages on Tuesday reported a decline in net profit of Rs 411 crore in the financial year ending March 31, 2019, as compared to Rs 534 crore in the previous corresponding year.

Higher commodity prices and discretionary items eroded the profit, the company said in a statement.

The revenue, however, moved up to Rs 3,430 crore in 2018-19 as against Rs 3,217 crore in FY 18.

During January to March quarter this year, the net profit increased marginally to Rs 53.26 crore from Rs 53.16 crore in the last quarter of the previous year.

The revenue from operations jumped to Rs 784 crore from Rs 715 crore.

The board of directors has recommended a dividend of Rs 2.50 per share with a face value of Rs 1 each for the year ended March 2019.

Tata Global Beverages is an Indian multinational non-alcoholic beverages company headquartered in Kolkata.

A subsidiary of the Tata Group, it is the world's second largest manufacturer of tea and a major producer of coffee with presence in 40 countries.