Tata Global Beverages stock up 6 per cent on robust Q2 earnings

Tata Global Beverages shares on Thursday surged over 6 per cent after the company's consolidated net profit rose 54.69 per cent for the second quarter ended September 30.

Boosted by the strong results, shares of the company opened on a robust note and gained through the day to close 6.19 per cent higher at Rs 159.55 on the Bombay Stock Exchange (BSE).

Tata Global Beverages has reported a consolidated net profit of Rs 119.04 crore for the July-September quarter, up 54.69 per cent, on improved operating performance and robust sales in the coffee business.

The company had posted a net profit of Rs 76.95 crore during the corresponding period last year.

Net sales of the company rose to Rs 1,842.57 crore during the second quarter, against Rs 1,612.03 crore during the same period of 2011-12.

On the National Stock Exchange (NSE), the scrip settled at Rs 159.35, up 6.13 per cent.

Meanwhile, the BSE Sensex ended the day's trade at 18,561.70, up 56.32 points.

With inputs from PTI