Tata Consumer Products Q4 results: Profit jumps 23% to Rs 269 crore; Rs 8.50 dividend announced
The Tata group company said its revenue for the quarter rose 13.96 per cent YoY to Rs 3,618.73 crore from Rs 3,175.41 crore in the corresponding quarter last year.
- Apr 25, 2023,
- Updated Apr 25, 2023 4:50 PM IST
Tata Consumer Products on Tuesday said its consolidated net profit for the March quarter jumped 23.46 per cent year-on-year to Rs 268.59 crore compared with Rs 217.54 crore in the same quarter last year. The Tata group company said its revenue for the quarter rose 13.96 per cent YoY to Rs 3,618.73 crore from Rs 3,175.41 crore in the corresponding quarter last year.
The company board recommended a final dividend of Rs 8.45 per equity for the financial year. The dividend, if approved by the members at the ensuing annual general meeting, will be paid after the AGM and within 30 days of its declaration, Tata Consumer Products said in a BSE filing.
Tata Consumer said India beverages business grew 8 per cent for the quarter, with tea volumes returning to growth, up 3 per cent YoY. It said its India foods business continued its strong trajectory, with volumes up 8 per cent. The salt business margin was almost back to the normative range, the company said.
International business, Tata Consumer said recorded 11 per cent revenue growth (1 per cen ex-acquisitions) in constant currency with Ebitda in line with last year.
Managing Director & CEO Sunil D’Souza said his company saw early signs of green shoots in its branded tea business, with the interventions put in place starting to yield positive results. "In our other core business of salt, we continued to execute strongly and have gained market share despite pricing actions taken to mitigate inflation. Our innovation across categories has picked up pace significantly with the number of new product launches in FY23 being almost 2 times of FY22," he said.
Profit before exceptional items and tax at Rs 456 crores, up 13 per cent higher as compared to the corresponding quarter of the previous year, reflecting strong growth in the India branded business and stable performance in International and non-branded business. Tata Consumer Products said after considering exceptional items, the group's consolidated net profit at Rs 290 crore is higher by 21 per cent.
For the quarter, the India packaged beverages business delivered 1 per cent revenue growth and 3 epr cent volume growth, recording a sequential recovery. The premiumisation agenda continued with the premium tea portfolio performing better than the mass economy segment.
"We continued to retain market leadership in tea in the E-commerce channel. Coffee continued its strong performance with a revenue growth of 31 per cent YoY," Tata Consumer said.
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Tata Consumer Products on Tuesday said its consolidated net profit for the March quarter jumped 23.46 per cent year-on-year to Rs 268.59 crore compared with Rs 217.54 crore in the same quarter last year. The Tata group company said its revenue for the quarter rose 13.96 per cent YoY to Rs 3,618.73 crore from Rs 3,175.41 crore in the corresponding quarter last year.
The company board recommended a final dividend of Rs 8.45 per equity for the financial year. The dividend, if approved by the members at the ensuing annual general meeting, will be paid after the AGM and within 30 days of its declaration, Tata Consumer Products said in a BSE filing.
Tata Consumer said India beverages business grew 8 per cent for the quarter, with tea volumes returning to growth, up 3 per cent YoY. It said its India foods business continued its strong trajectory, with volumes up 8 per cent. The salt business margin was almost back to the normative range, the company said.
International business, Tata Consumer said recorded 11 per cent revenue growth (1 per cen ex-acquisitions) in constant currency with Ebitda in line with last year.
Managing Director & CEO Sunil D’Souza said his company saw early signs of green shoots in its branded tea business, with the interventions put in place starting to yield positive results. "In our other core business of salt, we continued to execute strongly and have gained market share despite pricing actions taken to mitigate inflation. Our innovation across categories has picked up pace significantly with the number of new product launches in FY23 being almost 2 times of FY22," he said.
Profit before exceptional items and tax at Rs 456 crores, up 13 per cent higher as compared to the corresponding quarter of the previous year, reflecting strong growth in the India branded business and stable performance in International and non-branded business. Tata Consumer Products said after considering exceptional items, the group's consolidated net profit at Rs 290 crore is higher by 21 per cent.
For the quarter, the India packaged beverages business delivered 1 per cent revenue growth and 3 epr cent volume growth, recording a sequential recovery. The premiumisation agenda continued with the premium tea portfolio performing better than the mass economy segment.
"We continued to retain market leadership in tea in the E-commerce channel. Coffee continued its strong performance with a revenue growth of 31 per cent YoY," Tata Consumer said.
Also read: LIC shares: Insurance stock headed for fresh yearly low within a month? Here’s what lies ahead
Also read: ITC, Maruti Suzuki, NTPC, Bharti Airtel shares outdo Nifty in phases of FPI outflows!