Post Q3 results: Tata Global Beverages announces increase in profit

The BSE Mid-cap stock are outperforming the broader market and gaining grounds on bourses, while the index is trading at 13,185.95 levels and is up by 100.71 points or 0.77 per cent.

Major stocks are trading in green with 52 advances and 30 declines seen in the sectoral index. Cummins India is up by 6.25 per cent, Godrej Industries is up by 5.82 per cent, Tata Global Beverages is up by 5.41 per cent, Tata Communications is up by 4.77 per cent, Exide India is up by 4.26 per cent and Divi's Laboratories is up by 4.02 per cent.

On February 1, Tata Global Beverages, for the December quarter had posted over two-fold jump in consolidated net profit at Rs 144.86 crore on lower finance cost and improved operating performance. A year ago in October-December, it had posted a net profit of Rs 60.46 crore.

Ajoy Misra, the Managing Director and CEO of Tata Global Beverages said that the Company has recorded significant profit growth last quarter despite spending higher on brands.

Meanwhile, Hindustan Petroleum, Cummins India and Indiabulls Housing Finance is contributing 40 per cent to the sectoral index gains and lifting it to higher levels.