Tata Consumer Products (TCPL) has reported a consolidated net profit of Rs 359.18 crore for the September quarter of FY24, indicating a modest growth of 1.18 per cent compared to Rs 354.98 crore in the same quarter of the previous financial year. The group’s consolidated net profit stood at Rs 363.98 crore.
The company reported a slight 0.17 per cent increase in profit compared to the previous quarter, where it recorded a profit of Rs 358.57 crore.
TCPL’s total revenue for the period reached Rs 3,733.78 crore, reflecting a substantial 11.02 per cent increase from Rs 3,363.05 crore in the year-ago quarter. While the revenue slightly decreased from the previous quarter’s Rs 3,741.21 crore.
In the quarter, the consolidated Earnings before interest, tax, depreciation, and amortization (EBIDTA) stood at Rs 569 crore, marking a remarkable 30 percent growth.
The company’s performance exceeded estimates, with TCPL’s Q2 revenue polled by brokerages at Rs 3,732 crore and net profit at Rs 341 crore.
Sunil D’Souza, Managing Director & CEO of Tata Consumer Products, stated, “Our transformation journey to becoming a premier FMCG company is on track. Going forward, we will continue to focus on driving profitable growth along with building future-ready capabilities. In tandem, we are progressing our Sustainability roadmap with our recently announced sustainability targets for FY26, which are in line with our long-term sustainability commitments.”
During the quarter, Tata Consumer’s India Packaged Beverages business demonstrated a healthy performance with a 5 per cent growth in revenue and a 3 per cent growth in volume. They maintained their market leadership in the E-commerce channel for tea products and experienced robust growth in their coffee segment, with a significant 17 per cent year-on-year revenue increase. The company also introduced new products, including Tata Coffee Quick filter decoction coffee, Tetley Premium black leaf tea, and various health and wellness beverages.
The India Foods business delivered an impressive 16 per cent revenue growth and a 6 per cent volume growth, driven by the success of their value-added salt portfolio, the expansion of the Tata Sampann brand, and the launch of a range of new products, including cold-pressed oils. Tata Consumer also expanded its distribution network and experienced growth in alternate channels like Modern Trade and E-commerce.
