Tata Consumer Products Q2 Results: Revenue increases 11% while profit increases 3% YoY to Rs 338 crore

1 Nov 2023 , 11:38 AM

Tata Consumer Products, a consumer goods company, recorded a 3% increase in its consolidated net profit from July to September, coming in at Rs 338 crore as opposed to Rs 328 crore during the same period last year.

During the second quarter of reporting, revenue from operations increased by 11% YoY to Rs 3,734 crore. In the same quarter of the previous year, it was Rs 3,363 crore.

For the quarter, consolidated EBITDA was Rs 569 crore, up 30% year over year.

The packaged beverage business in India saw a 3% increase in volume and a 5% increase in revenue for the quarter. Coffee, on the other hand, maintained its impressive success, growing its income by 17%.

The India Foods company had a 6% increase in volume and a 16% increase in revenue. Throughout the quarter, the value-added salt portfolio saw double-digit revenue increase. The Tata Sampann portfolio grew strongly, up 47% year over year.

The revenue from international business increased by 13% for the quarter (8% in constant currency).

The Tata Starbucks’ quarter-over-quarter revenue growth was a robust 14%. Throughout the quarter, a total of 22 new stores opened and entered 2 new cities. As a result, there are now 370 Starbucks locations spread over 49 cities.

‘We reached newer milestones in our sales and distribution build-out, expanding our total reach to 3.8 million outlets as of September 2023 while also improving throughput through focused initiatives in larger towns,’ stated Sunil D’Souza, MD and CEO, Tata Consumer.

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