Mumbai: Tata Global Beverages, which reported a 17.12% fall in consolidated net profit at Rs 152.47 crore in the September quarter, has said it is expecting the merger of Tata Chemicals consumer products business with itself by the end of this fiscal.
The company said that during the second quarter, it had a one-time impact of the tax rate change on the group consolidated net profit with a charge of Rs 9 crore, arising mainly on account of reversal of opening net deferred tax assets.
Further, the share of profits in associates and JV's for the current quarter included a charge of Rs 14 crore due to the reversal of opening deferred tax assets as a result of reduced tax rate, it added.
Tata Starbucks clocked a 26% growth in revenue for the quarter. With its entry in Gujarat in August opening five stores, the JV now has 163 stores spread across 10 cities in India, the company said.
Tata Chemicals posted a 6.9% rise in consolidated net profit at Rs 437.05 crore on the back of strong sales.
