Latest News | Tata Consumer Products' Q3 Net Profit Jumps 22.2 Pc to Rs 290 Cr

New Delhi, Feb 2 (PTI) Tata Consumer Products Ltd (TCPL) on Wednesday reported a 22.19 per cent jump in its consolidated net profit to Rs 290.07 crore for the third quarter ended December 31, 2021.

The company had posted a net profit of Rs 237.38 crore in the corresponding quarter last year, said TCPL, earlier known as Tata Global Beverages Ltd, in a BSE filing.

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Its revenue from operations during October-December 2021 rose 4.52 per cent to Rs 3,208.38 crore, compared with Rs 3,069.56 crore in the year-ago period.

Total expenses of the Tata Group's FMCG arm stood at Rs 2,832.68 crore in the December 2021 quarter, a rise of 1.5 per cent as against Rs 2,790.72 crore a year ago.

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TCPL's revenue from its 'India- beverages' segment rose 1.01 per cent to Rs 1,277.68 crore, against Rs 1,264.83 crore a year ago.

Its India food business jumped 16.12 per cent to Rs 732.36 crore, against Rs 630.64 crore a year ago.

However, its revenue from the 'international-beverages' declined 4.28 per cent to Rs 896.62 crore, against Rs 936.76 crore in the corresponding quarter of the previous year.

TCPL Managing Director and CEO Sunil D'Souza said: We delivered strong performance with improved profitability in a challenging operating environment. Both tea and salt recorded market share gains. Despite inflationary pressures, we delivered double-digit growth in Ebitda (earnings before interest, tax, depreciation and amortisation) for Q3 (third quarter)."

He added that the company kept the momentum on innovation with several new launches across categories. "We continue to invest behind our brands and new businesses and expand distribution across channels."

With tea inflation tapering off, the company has seen a significant expansion in the Indian beverages margin. However, with inflation in the foods business, it will address these through the dynamic management of P&L.

"We remain committed to progressing our transformation agenda and building for future growth," D'Souza said.

Shares of Tata Consumer Products Ltd on Wednesday settled at Rs 742.50 apiece on BSE, up 0.88 per cent from the previous close. HRS hrs

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