Mumbai: Tata Consumer Products Ltd. (TCPL) announced a consolidated net profit of Rs 359.18 crore for the September quarter of FY24, marking a 1.18 percent increase from Rs 354.98 crore in the same period of the previous fiscal year. The groups consolidated net profit amounted to Rs 363.98 crore.
The company recorded a 0.17 percent profit growth compared to Rs 358.57 crore in the preceding quarter.
The total revenue for the company is Rs 3733.78 crore, reflecting an 11.02 percent rise from Rs 3363.05 crore in the corresponding quarter of the previous year. However, revenue experienced a slight decrease from Rs 3741.21 crore in the previous quarter.
The consolidated Earnings before interest, tax, depreciation and amortization (EBIDTA) for the quarter reached Rs 569 crore, indicating a 30 percent growth.
While the revenue figures were largely consistent with expectations, the profit surpassed estimates.
During the quarter, Tata Consumers India Packaged Beverages business showed strong performance, achieving a 5 percent increase in revenue and a 3 percent rise in volume.
TCPL maintained its leading position in the E-commerce channel for tea products and experienced substantial growth in the coffee segment, with an impressive 17 percent year-on-year revenue surge.
Further, they introduced new offerings such as Tata Coffee Quick filter decoction coffee, Tetley Premium black leaf tea, and various health and wellness beverages.
The India Foods business delivered remarkable results, with a 16 percent growth in revenue and a 6 percent increase in volume.
This growth was propelled by the success of their value-added salt portfolio, the expansion of the Tata Sampann brand, and the introduction of a range of new products, including cold-pressed oils.
Tata Consumer also expanded its distribution network and saw growth in alternative channels like Modern Trade and E-commerce.
