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NEW DELHI: Tata Consumer Products, which replaced GAIL in the Nifty50 Club Elite on March 31, has failed to enthuse Dalal Street with its first quarterly numbers. Profit and Ebitda margins for the March quarter came in much lower than analyst expectations, even as sales for the quarter remained healthy.
Analysts are looking ahead to a meeting with the company management later on Friday at 6.30 pm, which may give a glimpse of the impact of Covid second wave on demand and outlook for the salt-to-tea maker.
Edelweiss said it would seek answers to broadly three questions: whether more price hikes are needed given the margin pressure and whether the consumer company is seeing any impact of the second wave of Covid on operations; and how is it working around customers’ reluctance to buy premium products.
Synopsis From a trade perspective, we see the same thing that we saw the first time around - moderate trade footfall is falling dropping dramatically, e-commerce rising rapidly and general trade.
Agencies
In the first COVID wave, we saw impact mostly in large metros and a little bit in tier I, tier II. Now we are seeing it go down to the countryside and rural areas, says Sunil D Souza, MD & CEO, Tata Consumer in an interview with ET Now. Edited excerpts:
Before I get into the second wave, overall we are very pleased with the numbers that we have delivered for the year, 20% top-line, 24% PBT and 100% group net. For the quarter, very strong top line and a very strong group net. Yes, there is a bit of pressure and I can talk through it at some point, very easily explainable that is why we remain very bullish on the future.
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In the first COVID wave, we saw impact mostly in large metros and a little bit in tier I, tier II. Now we are seeing it go down to the countryside and rural areas, says Sunil D Souza, MD & CEO, Tata Consumer in an interview with ET Now. Edited excerpts:
Before I get into the second wave, overall we are very pleased with the numbers that we have delivered for the year, 20% top-line, 24% PBT and 100% group net. For the quarter, very strong top line and a very strong group net. Yes, there is a bit of pressure and I can talk through it at some point, very easily explainable that is why we remain very bullish on the future.
Tata Consumer Products back in black with a ₹54 crore profit in Q4
May 07, 2021
Company proposes a final dividend of ₹4.05 per equity share
Tata Consumer Products (TCP) reported a profit of ₹53.90 crore for the quarter ended March 31, 2021, recovering from a loss of ₹76.49 crore in the corresponding quarter last year.
TCP’s revenue increased by 27 per cent to ₹3.080.18 crore from ₹2.426.96 crore during the period.
A final dividend of ₹4.05 per equity share was recommended subject to approval by the members of the ensuing Annual General Meeting.
For the quarter, the India packaged beverages business recorded a 53 per cent value growth and 23 per cent volume growth. The India foods business registered a 22 per cent revenue growth and 21 per cent volume growth.
Tata Consumer Products on Thursday reported a consolidated net profit of Rs 133.34 crore for the March quarter as against a loss of Rs 50 crore in the year-ago period, mainly on account of growth in revenue and good control over expenditure. However, margins were impacted by tea cost inflation in India. The company s board has recommended a final dividend of Rs 4.05 per equity for the financial year 2020-21. Its revenue from operations rose 26.2 per cent to Rs 3,037 crore from Rs 2,405 crore reported in the same quarter last year. The company said it has an exceptional item for the current quarter mainly representing costs relating to the business restructure and reorganisation of Rs 18 crore and loss on disposal of an overseas subsidiary of Rs 46 crore.