Tata Consumer share price falls 5% after Q4 result; should you buy or sell the stock?

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₹1,112.90 against its previous close of ₹1,173.25 and fell 5.30 per cent to the level of ₹1,111.05. Around 10:15 am, Tata Consumer share price traded 4.88 per cent lower at ₹1,116 apiece. Equity benchmark Sensex was 0.39 per cent up at 74,024.86 at that time.

After market hours on Tuesday, April 23, Tata Consumer reported a 22.5 per cent drop in its Q4FY24 net profit at ₹267.7 crore, compared to ₹345.6 crore in the corresponding period last year. Revenue from operations in the quarter rose 8.5 per cent to ₹3,927 crore, compared to ₹3,619 crore in the year-ago period. The company's (earnings before interest, taxes, depreciation, and amortization) EBITDA for the March quarter grew 23 per cent to ₹629.6 crore, compared to ₹511.7 crore in the same period last year.

Tata Consumer Products's board also announced a final dividend of 775 per cent for FY24. Also Read: Tata Consumer Products Q4 Results: Net profit drops 22% to ₹267 crore, revenue down 8.5% YoY; dividend declared Tata Consumer share price has significantly outperformed the equity benchmark in the last one year. The stock has jumped nearly 68 per cent in the last one year (as of April 23 close) against a nearly 24 per cent gain in equity benchmark Sensex.

Several brokerage firms retained their positive views on the stock after the company's Q4 result. Also Read: Cyient DLM share price surges over 13% after Q4 PAT jumps 81% YoY Brokerage firm ICICI Securities maintained a buy call on the stock with a target price of ₹1,360, implying a 16 per cent upside. The brokerage firm said Tata Consumer’s Q4FY24 was in line with its estimates.