Tata Consumer Q1 Results: Profit surges 30% YoY to Rs 359 crore; revenue rises 12%
Tata Consumer Products on Wednesday posted a consolidated net profit of Rs 359 crore in the first quarter. This is higher by 30% when compared with Rs 277 crore in the last-year period. Revenue from operations during the quarter rose 12% year-on-year to Rs 3,741 crore.
The revenue growth is mainly driven by strong 16% uptick in India Business, 3% (CC) in international business and 5% (CC) in non-branded business. Consolidated EBITDA (earnings before interest, tax, depreciation and amortisation) for the reporting quarter rose 19% to Rs 547 crore. Segment-wise, the India packaged beverages business delivered 2% revenue growth and 3% volume growth.
Both of the company's largest tea brands Tata Tea Premium and Tata Tea Agni recorded strong volume growth during the quarter. Meanwhile, coffee business continued with its strong performance with revenue growth of 21% YoY. For the quarter, the India Foods business delivered 24% revenue growth and 6% volume growth.
The salt portfolio continued its strong momentum and recorded double-digit revenue growth during the quarter on a high base of last year. In the international business, revenues jumped 7% in the first quarter. Tata Starbucks recorded revenue growth of 21% for the June quarter.
It has opened 16 stores during the quarter and entered 4 new cities. This brought the total number of stores to 348 across 46 cities. «We delivered strong topline growth of 12% along with earnings growth of 23% this quarter.
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