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Wednesday, April 7, 2010 as of 11:14 AM ET

Tata

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Tatars (Tatar: , sometimes spelled Tartars) are a Turkic people, numbering around 7 million.

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Tata Global Profit Drops 36%; Starbucks Cafe Plan On Track

Tata Global Beverages Ltd.

(500800.BY), which owns the Tetley brand of tea and has a tie-up with Starbucks Corp. (SBUX) to open the U.S. company's cafes in India, Wednesday reported a more than 36% drop in its quarterly net profit, weighed by exceptional costs.The company, whose financial perfromance has been under pressure over the last several quarters due to high raw material costs in the U.S., has been looking to transform its business by tapping into India's booming local cafe market.Earlier this year, it struck a deal to open Starbucks cafes in India through an equally owned joint venture, Tata Starbucks Ltd., with the Seattle-based coffee-chain operator.Tata Global, which also sells the Tata Tea and Eight O'Clock Coffee brands, said it is on track to open the first and much-awaited Starbucks outlet in India by August or September this year.Tata Global's consolidated net profit for the January-March period, its fourth quarter, fell to INR542.1 million from INR852.4 million a year...

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