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Tata Global Beverages fiscal Q1 profit climbs YOY

Tata Global Beverages Ltd. said its normalized net income for the fiscal first quarter ended June 30 was 1.46 Indian rupees per share, compared with the S&P Capital IQ consensus estimate of 1.64 rupees per share.

In the prior-year period, the per-share result came in at a profit of 1.45 rupees.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 905.3 million rupees, an increase from 894.1 million rupees in the prior-year period.

The normalized profit margin dropped to 4.8% from 5.0% in the year-earlier period.

Total revenue increased year over year to 18.84 billion rupees from 17.96 billion rupees, and total operating expenses rose 6.2% on an annual basis to 17.18 billion rupees from 16.18 billion rupees.

Reported net income declined 12.9% from the prior-year period to 972.3 million rupees, or 1.57 rupees per share, from 1.12 billion rupees, or 1.81 rupees per share.

As of July 28, US$1 was equivalent to 60.09 Indian rupees.