Tata Consumer Products logs 22% yoy rise in Q3 PAT to Rs290cr despite inflationary pressures

3 Feb 2022 , 02:42 PM

Tata Consumer Products has announced its financial performance for the quarter ending December 2021 (Q3FY22). For the quarter, revenue from operations increased by 5% (4% in constant currency) as compared to the corresponding quarter of the previous year. Profit before exceptional items and tax at Rs 401cr is higher by 34%. Group Consolidated Net Profit at Rs290cr is higher by 22%.

Sunil D’Souza, Managing Director & CEO of Tata Consumer Products said “We delivered strong performance with improved profitability in a challenging operating environment. Both tea and salt recorded market share gains. Despite inflationary pressures, we delivered double-digit growth in EBITDA for Q3. We have kept the momentum on innovation with several new launches across categories. We continue to invest behind our brands and new businesses and expand distribution across channels. With the acquisition of Tata SmartFoodz, we are looking to expand our portfolio further into higher-margin, value-added categories. As we integrate and synergize operations, work is underway on making the TCPL foods network future-ready in its supply and manufacturing footprint.”

The MD and CEO added, “With tea inflation tapering off, we have seen a significant expansion in India Beverages margin, however with inflation in Foods business, we will address these through dynamic management of P&L. We remain committed to progressing our transformation agenda and building for future growth.”

At around 2.39 pm, Tata Consumer was trading at Rs741.70  per piece flat compared to the previous closing on BSE.

The stock has touched an intraday high and low of Rs769 per piece and Rs737 per piece.