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Tata Consumer PAT Rises By 4% in Q2

Indian Retailer Bureau
Indian Retailer Bureau Oct 26 2021 - 1 min read
Tata Consumer PAT Rises By 4% in Q2
Tata Consumer reported a 9.1 per cent on-year growth in consolidated revenue from operations to INR 3,033.1 crore

Tata Consumer Products, which is a subsidiary of the Tata Group, has reported a 4.2 per cent year-on-year (YoY) increase in consolidated net profit to INR 268 crore that does not meet the anticipations of analysts. 

The firm reported a 9.1 per cent on-year growth in consolidated revenue from operations to INR 3,033.1 crore, which was above the expectations of the Street.“The topline growth in the quarter was aided by a 14 per cent on-year rise in India beverages and 23 per cent increase in the India foods business. International business of the company disappointed in the quarter ended September as it posted flat growth in sales,” the company said. “We delivered another quarter of double-digit revenue growth despite a high base last year,” Sunil D’Souza, MD and CEO at Tata Consumer, said. 

The company’s profit before interest and tax soared 5 per cent on-year to INR 364 crore in subject to improved gross margin partially offset by higher spending behind brands. Besides recording market gain in branded tea, it is reinforcing its leadership position in the e-commerce sector. 

“The international beverages business revenue growth was flat as it was cycling an elevated base driven by an increase in home consumption of tea and coffee last year,” Tata Consumer said.

 

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