Tata Consumer Q2 profit rises 36% to ₹389 cr; revenue up 11% to ₹3,363 cr

The company had posted a net profit of ₹285.80 crore for the July-September period a year ago.

Revenue from operations rose by 10.87 per cent to ₹3,363.05 crore during the quarter under review as against ₹3,033.12 crore in the corresponding period last year.

Total expenses of Tata Consumer Products (TCPL) were at ₹3,021.90 crore, up 11.55 per cent from ₹2,708.91 crore earlier.

“We delivered another quarter of double-digit revenue growth while balancing margins despite inflationary pressures, weakness of currency and some lag in pricing in International Markets,” said TCPL Managing Director and CEO Sunil D’Souza.

Tata Consumer Products Ltd’s revenue from the Indian market in July-September rose 9.19 per cent to ₹2,159.95 crore, as against ₹1,978.08 crore in the year-ago period.

While the branded tea category in India was tepid, TCPL continued to gain volume market share, he said.

“In our other core business of salt, despite significant inflation-led pricing, we have continued to gain market share and strengthen our leadership position,” D’Souza added.

Its international business contributed revenue of ₹838.87 crore, up 7.37 per cent compared to ₹781.27 crore earlier.

“While unprecedented inflation and adverse currency movements in our International business have weighed on our margin this quarter, we will be driving structural cost saving initiatives to improve the trajectory going forward. Our transformation agenda to become a leading FMCG company continues to be on track,” said D’Souza.

Shares of TCPL on Thursday settled at ₹770.25 apiece on BSE, up 0.25 per cent from the previous close.