TCPL Reports Dip in Q3 Profit by 17% but Sees Revenue Rise by 9.47%
Tata Consumer Products Ltd (TCPL) has witnessed a 17.26% fall in its consolidated net profit, amounting to Rs 301.51 crore for the December quarter. This decline was attributed to a decrease in contributions from associate and joint venture companies.
In contrast, the profit before exceptional items and tax saw a 27.12% increase, reaching Rs 513.27 crore during the same period. This comes as a positive note against the backdrop of last year’s Rs 403.75 crore for the corresponding quarter.
Despite the dip in profits, TCPL showed a promising increment in its revenue operations, which rose by 9.47% to Rs 3,803.92 crore during the quarter under review. The company attributed this growth to robust performance in its India business, which saw a 10% rise.
Highlighting the quarter’s achievements, Sunil D’Souza, Managing Director & CEO, noted the volume-led growth in the India tea and salt businesses. The premium segments of these products have shown impressive growth, contributing to the overall revenue increase. Furthermore, TCPL’s international market revenue also saw a significant 10.58% rise.
Tata Starbucks, a joint venture between TCPL and Starbucks Corporation, continued its expansion by adding 22 new stores and entering six new cities, bringing its total to 392 stores across 55 cities. This expansion reflects TCPL’s strong footing in the retail segment.
The company’s shares closed at Rs 1,166.15 apiece on BSE, indicating a slight increase of 0.29% from the previous close, showcasing investor confidence amidst a mixed quarter performance.
