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Many small brands swallowed up in catch-up acquisition spree
The acquisition will give Wipro Consumer Care and Lighting an entry into the Rs 70,000-crore spices market, which recently witnessed the entry of companies such as Dabur India
Deal valuation pegged between Rs 1,000-1,500 crore
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Tata Consumer Products will issue one equity share for every 22 share held in Tata Coffee to existing shareholders
Raymond's sales rise 15% in September quarter versus pre-Covid period
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. 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. 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
Twitter will be paying close attention to how the feature can impact the way people read, write, and engage with tweets
The Consumer Affairs Ministry has proposed printing the percentage of two or more major constituents used in a commodity visibly on the front side of the packaging for the benefit of consumers, and sought comments from the stakeholders by month-end. This comes as the ministry has observed that many manufacturers, packers and importers are not making important declarations prominently on the front side of the package, which is necessary in the interest of consumers and also violate their consumer right of "Right to be informed". "The declaration of unique selling point/unique selling proposition (USP) of the product on the front side of the package without its percentage of composition is against the consumer rights," the ministry said on its website. In the interest of consumers, the ministry has proposed amendment to the Legal Metrology (Packaged Commodities) Rules, 2011 to include the following sub-rule. In case a commodity contains more than one constituent, "the front side of t
The Central Consumer Protection Authority (CCPA) on Wednesday said it has imposed a penalty of Rs 1,00,000 on e-commerce player Flipkart for allowing the sale of substandard domestic pressure cookers on its platform. Speaking to PTI, CCPA Chief Commissioner Nidhi Khare said a penalty of Rs 1,00,000 has been imposed on Flipkart for allowing the sale of substandard pressure cookers on its e-commerce platform and violating the rights of consumers. Flipkart has also been directed to notify consumers of all 598 pressure cookers sold on its platform, recall the pressure cookers and reimburse money to the consumers, she said. The company has also been asked to submit a compliance report of the same within 45 days, she added.
The company had posted a net loss of Rs 24.97 crore during the April-June quarter of the previous fiscal, Bajaj Electricals said in a regulatory filing.
According to economists, inflation is likely to ease by October as the monsoons have been progressing well with the cumulative rainfall being 9 per cent above the long-term average up to July 12
There has been a double-digit year-on-year increase in the prices of most spices, with branded coriander costing 16.9 per cent more in June this year than a year ago
The company may also withdraw some variants of other categories that were launched during the pandemic, said Vineet Agarwal, chief executive officer of Wipro Consumer Care
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Tata Group's much-awaited super-app will finally be launched tomorrow. Tata Neu is bringing all the company's digital services in one place, while also doubling down on its consumer-facing businesses
Company posts 9% YoY increase in net profit, 11% growth in revenues
The firm was helped by a strong growth in its consumer products business
Tata Consumer Products Ltd (TCPL) believes there is enough headroom to grow in staples and packaged food space and the company is now expanding the offline reach of its spices and pulses brand Sampann, according to a top company official. The company is taking advantage of commodity spaces and driving conversion from unbranded to branded across beverages and foods. It is witnessing a change in consumption patterns, with an increased focus on safety and convenience along with a shift towards 'trusted' brands with a strong heritage, TCPL Managing Director & CEO Sunil D'Souza told PTI. Traditional ingredients, which have been known to build health and immunity over the ages have been favoured. "Our foods business in India, which is salt, pulses, spices and mixes has probably been the biggest beneficiary of this trend in India," he said. However, D'Souza also added that it is "difficult to say how many of these trends will become sustained long-term behaviour patterns. So, it will be