TGBL reports 6.55 percent decline in net profit at Rs 133.60 crore
It had posted a net profit of Rs 142.97 crore in April-June period a year ago, TGBL said in a BSE filing.
"The Group net profit for the quarter is lower due to the impact of exceptional items," the company said adding that it is "for the current quarter represent redundancy costs relating to internal restructure."
Exceptional items for the corresponding quarter of the previous year represent a gain from disposal of a stake in its Chinese subsidiary, the company said.
"For the quarter, Revenue from Branded Business increased by 7 per cent and after excluding the impact of business restructuring and at constant currency the increase is 8 per cent, as compared to the corresponding quarter of the previous year," said TGBL adding " However non branded sales were lower than the corresponding quarter of the previous year."
Shares of TGBL today settled at Rs 235.90 on BSE, down 4.49 percent from the previous close.
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