Tata Global Beverages Ltd said late on Thursday its board has approved forming a 50:50 joint venture (JV) with Pepsico India Holding Pvt Ltd in the non-carbonated, ready-to-drink beverage segment.
The mandate of the JV is to develop its business internationally, the firm said in a statement.
Tata Global also reported a 82 percent fall in consolidated net profit to 516.1 million rupees in the quarter ended September 30. Total Income rose to 14.67 billion rupees from 14.26 billion rupees during the same period.
"Profit before and after tax is lower compared to the corresponding period of previous year, since last year there was a one-time profit on sale of shares," the statement added.

Name -Rakesh prasad
PGDM -1St (2010)