Tata Consumer reports 43% decline in Q1 profits - The Hindu BusinessLine
thehindubusinessline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehindubusinessline.com Daily Mail and Mail on Sunday newspapers.
Tata Consumer Products - A manageable (margin) speed-breaker in show me story - ICICI Securities
equitybulls.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from equitybulls.com Daily Mail and Mail on Sunday newspapers.
1. For the quarter, Revenue from operations increased by 23% (21% in constant currency) as compared to corresponding quarter of the previous year, led by volume and value growth in the branded business. The Group s business segments catering to out of home consumption continue to be adversely impacted, with progressive recovery from the earlier lows. Profit before exceptional items and tax at Rs 298 Crores is higher by 13% as compared to corresponding quarter of the previous year, mainly on account of growth in revenue and good control over expenditure despite record tea cost inflation in India. Lower tax provision in the current quarter is on account of one time credits and profit mix. Group Consolidated Net Profit is higher by 29%.
On a consolidated basis, Tata Consumer Products reported a 29% rise in net profit to Rs 237 crore on 23% increase in revenue from operations to Rs 3,070 crore in Q3 FY21 over Q3 FY20.
The growth in revenue was driven by strong growth across India and International business. Sequential recovery continues for our out-of-home India businesses i.e. NourishCo & Tata Starbucks.
On the segmental front, total branded business revenue rose by 26% to Rs 2,832 crore while the non branded business revenue increased by 4% to Rs 246 crore in Q3 December 2020 over Q3 December 2019. In the Branded business, the growth was led by India Beverages (up 46% YoY), followed by India Foods (up 19% YoY) and International Beverages (up 9% YoY).