scorecardChai and coffee were not hit by the great Indian economic slowdown
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Chai and coffee were not hit by the great Indian economic slowdown

Chai and coffee were not hit by the great Indian economic slowdown
Business1 min read

  • Tata Global Beverages saw a 17% fall in profits to ₹152 crores.
  • But the company’s India tea business clocked a growth of 8% in volume and value.
  • Tata Starbucks clocked a 26% growth in revenue for the quarter.

Tata Global Beverages’s second quarter profits fell by 17.1% to ₹152 crore. Its revenues grew by 4% to ₹1,834 crore.

However, thankfully because of the chai and coffee lovers, the company – which is the world’s second largest manufacturer and distributor of tea – saw no impact of economic slowdown on sales.

“Our flagship brands in India recorded good growth and we will continue to focus on white space opportunities in the Indian market,” said Ajoy Misra, Managing Director and CEO of Tata Global Beverages.

According to the company, the India tea business clocked a growth of 8% in volume and value terms. Meanwhile, Tata Starbucks’ sales grew 26% for the quarter.

Its international sales are growing too. The total revenue from Tata Coffee and Vietnam unit saw an 18% growth along with a volume growth from tea and coffee in the UK, US and Canada.

“Our international markets reflected volume growth in both tea and coffee. We will continue to strengthen our innovation agenda while further strengthening our core brands. Our JVs continue to perform well and have posted good revenue growth in the quarter,” said Misra.

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