Tata Consumer Products Q1 net rises 38% to Rs 277 cr; revenue up 11%

Tata Consumer Products Ltd (TCPL) on Wednesday reported 38.2 per cent rise in consolidated net profit at Rs 276.72 crore for June quarter 2022-23.

The company had posted a net profit of Rs 200.24 crore for April-June period a year ago, said TCPL, earlier known as Tata Global Beverages Ltd, in a BSE filing.

Revenue from operations was up 10.58 per cent to Rs 3,326.83 crore during the quarter under review as against Rs 3,008.46 crore in the corresponding period last fiscal year.

Total expenses of the Tata Group FMCG arm were at Rs 2,958.72 crore as against Rs 2,696.19 crore.

Revenue from the Indian market in April-June was at Rs 2,145.20 crore as against Rs 1,971.76 crore in the year-ago period.

Its International Business contributed Rs 836.62 crore, up 9 per cent as against Rs 767.58 crore.

"We delivered double-digit revenue growth and improved profitability for the company despite a challenging macro environment and inflation impact in some of our categories," TCPL Managing Director & CEO Sunil D'Souza said.

The company recorded market share gains in both core categories of tea and salt in India, he added.

"In terms of profitability, we delivered an EBITDA margin expansion YoY, despite severe inflationary pressures in the salt business and significantly higher A&P," D'Souza added.

Shares of TCPL on Wednesday settled at Rs 790.25 apiece on BSE, up 0.25 per cent from the previous close.