New Delhi, October 20: Tata Consumer Products Ltd (TCPL) on Thursday reported a 36.25 per cent rise in consolidated net profit at Rs 389.43 crore for the second quarter ended September 30, 2022.
The company had posted a net profit of Rs 285.80 crore for the July-September period a year ago, TCPL, earlier known as Tata Global Beverages Ltd, said in a BSE filing. Tata Consumer Products Announces Reorganisation Plan, To Merge Coffee Business With Itself.
Revenue from operations climbed 10.87 per cent to Rs 3,363.05 crore during the quarter under review as against Rs 3,033.12 crore in the corresponding period last year. Total expenses of the Tata group’s FMCG arm were at Rs 3,021.90 crore, up 11.55 per cent from Rs 2,708.91 crore earlier. Tata Consumer Products Retains Leadership Position for Best Sustainability Practices.
TCPL Managing Director and CEO Sunil D’Souza said: “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.”
TCPL’s revenue from the Indian market in July-September rose 9.19 per cent to Rs 2,159.95 crore, as against Rs 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 Rs 838.87 crore, up 7.37 per cent compared to Rs 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 Rs 770.25 apiece on BSE, up 0.25 per cent from the previous close.
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