Tata Consumer Products Q3 net profit up 26% to ₹364 cr, revenue up by 8%
1 min read . Updated: 02 Feb 2023, 04:57 PM IST
PremiumThe consolidated revenue of Tata Consumer Products major grew by 8.29 per cent to ₹3474.55 crore
Tata Consumer Products on on Thursday reported a 25.6 per cent rise in consolidated net profit to ₹364.43 crore for the December 2022 quarter. This is against a net profit of ₹290.07 crore in the year-ago period, Tata Consumer Products said in a regulatory filing.
The consolidated revenue of Tata Consumer Products major grew by 8.29 per cent to ₹3474.55 crore in the quarter under review from ₹3208.38 crore a year ago.
Consolidated EBITDA for the quarter declined by 2 per cent to ₹458 crore.
"For the quarter, Revenue from operations increased by 8% as compared to corresponding quarter of the previous year, mainly driven by underlying growth of 8% in India Business, 2% in International Business and 22% in Non-Branded Business," said TCPL in its regulatory filing.
For the quarter, the India packaged beverages business recorded 9% revenue decline led by pricing corrections and demand slowdown and late onset of winter in our key markets of North and East, said the company in its regulatory filing. "We are seeing demand recovery now," said TCPL in the filing.
The coffee business recorded a revenue growth of 34% year-on-year while India foods business registered 29% revenue growth and 4% volume growth.
The salt portfolio continued its momentum and recorded double-digit revenue growth during the quarter.
While, Tata Starbucks recorded revenue growth of 42% for the quarter, aided by a revival in out of home consumption and strong store addition. It has opened 11 new stores during Q3, and entered 2 new cities. This brought the total number of stores to 311 across 38 cities.
On Thursday, the company's scrip on BSE closed trading 2.47 per cent higher at ₹1,340.
