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Tata Consumer Products announces results for the quarter ended June 30, 2024; Revenue from operations grew by 16%
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Monday, 12 August, 2024, 12 : 00 PM [IST]
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Our Bureau, Mumbai
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Tata Consumer Products Ltd., announced its results for the quarter ended June 30, 2024. For the quarter, Revenue from operations grew by 16% (16% in constant currency) as compared to the corresponding quarter of the previous year. Organic growth, excluding acquisitions (Capital Foods and Organic India) was 10%, Profit before exceptional items and tax at Rs 465 crore is lower by 6% as an improvement in operating performance was more than offset by finance cost and amortisation charges. Group Consolidated Net Profit at Rs 289 crore is lower on account of higher exceptional items and lower share of profits from Associates and Joint Ventures.
Key business updates:
- For the quarter, the India Beverages business revenue grew 6% (+1% organic growth), as the category was impacted by an intense summer.
- Coffee continued its strong trajectory with a revenue growth of 28% for the quarter.
- Tata Tea Chakra Gold Vita Care was launched in Tamil Nadu to strengthen Health & Wellness platform in South markets.
- Tata Tea’s Jaago Re campaign on climate change received over 1 lakh pledges.
- Nourishco (Ready to Drink business) recorded revenue growth of 7% during the quarter. Growth was muted on account of a high base and intense summer impacting out-of-home consumption.
- Recent introductions- Tata Spring Alive water and Himalayan Saffron continued to do well.
- For the quarter, the India Foods business revenue grew +30% (+14% organic growth), continuing its double-digit growth trajectory.
- Salt revenue grew 9%, driven by strong volume growth. Additionally, in line with premiumisation agenda, the value-added salt portfolio continued its strong momentum and grew 35% during the quarter. Tata Tea Gold celebrated Mother’s Day with a special campaign that generated over 30 million views.
- Tata Salt’s ‘Namak ho Tata ka, Tata namak’ campaign was activated on high impact platforms and was the best campaign in IPL 2024 in terms of ad recall.
- Tata Sampann portfolio continued its strong momentum and grew 37% for the quarter.
- Growth businesses, including Capital Foods and Organic India, now account for 29% of India business.
- Momentum on innovation continued with a focus on value added offerings.
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