Share of Tata Consumer Products declined over 6 per cent in early trade after the company reported earnings for the March quarter of 2021.
The stock opened with a loss of 2.80 per cent today at Rs 635 on BSE. It hit an intraday low of Rs 614.25 and an intraday high of Rs 641.90 so far.
Tata Consumer Products reported a consolidated profit after tax (PAT) at Rs 53.9 crore in Q4 against a loss of Rs 76.49 crore for the corresponding period of the previous fiscal.
Revenue from operations increased 26 per cent to Rs 3,037 crore for the quarter ended March 2021, compared to Rs 2,405 crore for the corresponding quarter of the previous year.
The India Packaged Beverages business recorded a 53 per cent value growth and 23 per cent volume growth, driven by robust growth across most of our brands that also resulted in market share gains.
The India foods business registered a 22 per cent revenue growth and 21 per cent volume growth. This translated to 17 per cent revenue growth in the Salt portfolio and 26 per cent revenue growth in Tata Sampann portfolio for the year.
The international beverages business growth rates slowed during the quarter due to pantry loading in the base quarter last year.
"The integration of our food and beverage businesses in India is complete as committed and we have started seeing synergy benefits. During the year, we have stepped up our distribution reach, invested behind our brands, and focused on premiumisation in our core portfolio. We continued the momentum in driving the Digital agenda with digitalization of channel partners, implementation of best in class ERP and a new integrated business planning system covering demand and supply planning.
"Overall, this year, despite the pandemic, we completed the integration of India business, made significant progress in our transformation journey, delivered strong earnings growth in the face of unprecedented inflation in a key raw material, while prioritising the safety and well-being of our people. Going forward, we will continue to make consistent progress against all our strategic pillars and create value for all stakeholders," it added.