Tata Consumer Products Q3 Results FY2024, Net profit at Rs.315.53 crores

On 7th February, Tata Consumer Products announced its quarterly results.

Key Highlights:

- Revenue from Operations for the quarter at Rs 3,804 Crores, up by 9%
- Consolidated EBITDA for the quarter at Rs 576 Crores, grew by 26%
- Profit for the quarter was reported at Rs.315.53
 

Business Highlights:

- The India Packaged Beverages division had a 4% increase in revenue for the quarter. Coffee's stellar success persisted, as its revenue increased by 32% throughout the quarter.
- The India Foods company expanded by 13% during the quarter, maintaining its double-digit growth trajectory. In keeping with the premiumization plan, the value-added salt portfolio maintained its strong pace throughout the quarter, seeing a 23% increase in sales.
- The Tata Sampann portfolio had strong volume growth and a 40% rise for the quarter.
- NourishCo had a robust 34% increase in revenue, bringing its growth to 41% YoY. Himalayan, Tata Copper+, and Tata Gluco+ all showed steady increases. 
- The revenue from international business increased by 11% for the quarter (or 6% in constant currency).
- Good Earth and teapigs both maintained their rapid expansion in the UK. Good Earth and teapigs kept outpacing category growth rates in the USA.
- During the Diwali holiday in Canada, marketing activations for Tata Tea and Tata Sampann spices were conducted with an emphasis on the Indian diaspora.

Commenting on the results, Sunil D’Souza, Managing Director & CEO of Tata Consumer Products said: “We delivered strong operating performance with a revenue growth of 9% and EBITDA growth of 26%. Our India tea business continued to benefit from our earlier interventions, yielding positive results resulting in a fourth consecutive quarter of volume led growth. We continued to see volume led growth in salt and recorded highest ever quarterly volume market share in salt. In both tea and salt, we saw premiumization at play with the premium portfolio in tea and the value added salt portfolio recording good growth. Our growth businesses (Tata Sampann, Tata Soulfull, NourishCo and Tata SmartFoodz) continued their strong momentum and have steadily increased their contribution. Tata Starbucks made consistent progress in its expansion agenda expanding its footprint to 55 cities.