Tata Consumer Products Q4 Results: Profit down 22.5% at Rs 267.71 crore, revenue up 8.5% on-year

financialexpress.com:

Tata Consumer Products on Tuesday posted its fiscal fourth quarter earnings with profit at Rs 267.71 crore, down 22.5 per cent on-year in comparison to Rs 345.58 crore during the fourth quarter of FY23, missing estimates. It posted revenue from operations at Rs 3926.94 crore for the quarter ended March 31, 2024, up 8.5 per cent as against Rs 3618.73 crore during the same period last year, with strong performance in India business, which grew 10 per cent. According to a CNBC TV18 poll, Tata Consumer Products was expected to report Q4 profit at Rs 315 crore and the revenue was estimated at Rs 3991 crore during the quarter in review.

While the total income recorded during the quarter was at Rs 3965.39 crore, total expenses incurred in Q4 stood at Rs 3455.93 crore. The company’s consolidated EBITDA for the quarter came in at Rs 631 crore, up 22 per cent, and for the year, it was at Rs 2323 crore, up 24 per cent. 

The company board also recommended a final dividend of Rs 7.75 per equity share of Re 1 each (775 per cent) for the financial year 2023-24. “The dividend, if approved by the members at the ensuing 61st Annual General Meeting, will be paid/dispatched (subject to deduction of tax at source) after the AGM and within 30 days of its declaration,” the company said in a regulatory filing. 

Tata Consumer’s India biz performance

For the quarter in review, the India packaged beverages business delivered a revenue growth of 2 per cent. While the coffee business continued its strong performance with a revenue growth of 45 per cent for the quarter, the company continued to retail market leadership in tea in the e-commerce channel. During FY24, premium and sub premium segments outperformed the overall business and accounted for