Q3FY22 Earnings: Dabur, Tata Consumer, Kamdhenu, Jubilant FoodWorks declare December quarter results - key highlights here!

Companies including Tata Consumer Products Limited, Dabur India Limited, Jubilant FoodWorks Limited, Kamdhenu Limited and V Guard Industries Limited on Wednesday announced their December quarter results. Here are key highlights of their earnings.

Tata Consumer Products' Q3 net profit jumps 22.2% to Rs 290 cr

Tata Consumer Products Ltd (TCPL) on Wednesday reported a 22.19 per cent jump in its consolidated net profit to Rs 290.07 crore for the third quarter ended December 31, 2021.

The company had posted a net profit of Rs 237.38 crore in the corresponding quarter last year, said TCPL, earlier known as Tata Global Beverages Ltd, in a BSE filing.

Its revenue from operations during October-December 2021 rose 4.52 per cent to Rs 3,208.38 crore, compared with Rs 3,069.56 crore in the year-ago period.

Total expenses of the Tata Group's FMCG arm stood at Rs 2,832.68 crore in the December 2021 quarter, a rise of 1.5 per cent as against Rs 2,790.72 crore a year ago.

TCPL's revenue from its 'India- beverages' segment rose 1.01 per cent to Rs 1,277.68 crore, against Rs 1,264.83 crore a year ago.

Its India food business jumped 16.12 per cent to Rs 732.36 crore, against Rs 630.64 crore a year ago.

However, its revenue from the 'international-beverages' declined 4.28 per cent to Rs 896.62 crore, against Rs 936.76 crore in the corresponding quarter of the previous year.

TCPL Managing Director and CEO Sunil D'Souza 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 (earnings before interest, tax, depreciation and amortisation) for Q3 (third quarter)."

He added that the company 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 tea inflation tapering off, the company has seen a significant expansion in the Indian beverages margin. However, with inflation in the foods business, it will address these through the dynamic management of P&L.

"We remain committed to progressing our transformation agenda and building for future growth," D'Souza said.
Shares of Tata Consumer Products Ltd on Wednesday settled at Rs 742.50 apiece on BSE, up 0.88 per cent from the previous close.  

Dabur Q3 Net rises 2.19% to Rs 504.35 cr, net sales up 7.8% to Rs 2,941.75 cr

Homegrown FMCG major Dabur India Ltd on Wednesday reported a 2.19 per cent increase in consolidated net profit to Rs 504.35 crore for the quarter ended in December 2021.

The company had posted a consolidated net profit of Rs 493.50 crore in the October-December quarter a year ago, Dabur India said in a BSE filing.

Its revenue from operations rose by 7.8 per cent to Rs 2,941.75 crore during the quarter under review as against Rs 2,728.84 crore in the corresponding quarter of the previous fiscal.

Commenting on the results, Dabur India CEO Mohit Malhotra said, "The overall operating environment remained challenging throughout the quarter with unprecedented inflation of 13 per cent and subdued consumer sentiments. We have mitigated the impact of inflation partially through calibrated price increases and cost-saving initiatives.

Despite these macro-economic headwinds, Dabur remained focused on rolling out consumer-centric innovation that expanded the total addressable market, he added.

"Our investments in distribution footprint expansion in rural India helped drive growth even in a challenging environment with rural demand for Dabur outpacing urban demand by 500bps," Malhotra added.

Dabur's total expenses were at Rs 2,388.53 crore, up 7.65 per cent in Q3 FY2021-22, as against Rs 2,218.68 crore of the last year.

During the quarter, Dabur's revenue from the consumer care business segment was up 4.13 per cent to Rs 2,543.23 crore as against Rs 2,442.18 crore in the year-ago period.

Revenue from the food business was up 39.14 per cent to Rs 329 crore as compared with Rs 236.45 crore in the year-ago period.

However, its retail business was up 29.48 per cent to Rs 27.49 crore from Rs 21.23 crore in the corresponding period of the previous year.

While revenue from other segments was up 38.43 per cent to Rs 32.67 crore as against Rs 23.60 crore.

"There has been a marked revival in discretionary spending by consumers, which helped the Home & Personal care business grow by 8.4 per cent. While our Healthcare portfolio was impacted due to the high base of the previous year and a marked drop in demand for COVID-contextual products, this business reported a 2-year CAGR of 11.4 per cent," Malhotra said.

Excluding the COVID-contextual range of Chyawanprash and Honey, Dabur's domestic FMCG Volume Growth stood at 8 per cent for the third quarter, he added.

Dabur's International Business reported growth of Rs 8.7 per cent in constant currency terms.

"The UK & EU business grew by 21.5 per cent, while the Nepal business was up 17 per cent. The US business posted a growth of 16 per cent, while the Turkey business reported a 14.6 per cent growth and Egypt grew by 13 per cent," it said.

Shares of Dabur India Ltd on Wednesday settled at Rs 557.40 on BSE, up 2.01 per cent from the previous close. 

Jubilant FoodWorks' net profit rises 7.5 pc to Rs 133.2 cr in Dec quarter

Jubilant FoodWorks Ltd (JFL), which operates quick service restaurant (QSR) chains like Domino's Pizza and Dunkin' Donuts, on Wednesday reported a 7.48 per cent increase in its consolidated net profit to Rs 133.19 crore for the third quarter ended December 2021.

The company had posted a net profit of Rs 123.91 crore in the corresponding quarter last year, JFL said in a BSE filing.

Its revenue from operations during October-December 2021 stood at Rs 1,210.77 crore, a jump of 13.23 per cent as compared with Rs 1,069.27 crore in the year-ago period.

"The growth was driven by an improved recovery in the dine-in channel, well supported by a continued strong momentum in delivery channel," said JFL in its post-earnings statement.

JFL's total expenses rose 13.06 per cent to Rs 1,040.23 crore in the December 2021 quarter, compared with Rs 920.02 crore in the year-ago period.

"When compared to the pre-COVID-19 period of Q3FY20, Domino's system sales recovered by 112.9 per cent.

"This was attributed to recovery in delivery and takeaway channels by 128 per cent and 148.2 per cent, respectively. Dine-in channel witnessed a healthy recovery at 71.7 per cent," JFL said.

During the October-December 2021 quarter, JFL opened 75 new restaurants for Domino's Pizza, entering into 17 new cities.

The quarter also saw record new store openings with a landmark 75 new Domino's stores being opened. This is the highest ever number of new store openings by any franchisee in any quarter in any market.

Besides, JFL recently also achieved a milestone of 1,500 Domino's stores in India.

During the quarter, JFL witnessed 8.2 million downloads of Domino's app taking the total number to 79.5 million.

It has also opened one new restaurant each for Dunkin' in the third quarter, taking the total count to 29.

JFL also opened one restaurant each of its new QSR Brands ? Hong's Kitchen and Ekdum!, taking the total count to 22 by the end of the quarter.

In January, JFL had also launched the iconic US fried chicken brand Popeyes in India by opening two stores in Bengaluru.

"The early customer response and feedback have been encouraging," said JFL adding that one more Popeyes QSR is scheduled to open shortly.

While sharing the information about its overseas operation, JFL said that in Sri Lanka, it has registered its highest-ever system sales in a quarter with a system sales growth of 95.9 per cent. While, in Bangladesh, system sales grew by 38 per cent.

"The company launched a new outlet each in Sri Lanka and Bangladesh," it said.

JFL Chairman Shyam S Bhartia and Co-Chairman Hari S Bhartia said in a statement, "We have delivered a strong, all-round Q3FY22 performance, along with a record expansion of the Domino's store network.

The company continues to create benchmarks, surpass key milestones and we remain excited with the growth opportunity that lies ahead.?

Meanwhile, in a separate filing, JFL said its board in a meeting on Wednesday approved and recommended a sub-division of equity shares from a face value of Rs 10 each to the face value of Rs 2 each.

This would "enhance the liquidity of the company's equity shares and encourage the participation of small investors by making it more affordable", said JFL.

Shares of Jubilant FoodWorks Ltd on Wednesday settled at Rs 3,301.25 apiece on the BSE, down 4.04 per cent from the previous close. 

Kamdhenu Q3 net rises 7% to Rs 7.68 cr

Building materials maker Kamdhenu Limited on Wednesday posted a jump of around 7 per cent in its consolidated net profit to Rs 7.68 crore for the quarter ended December 31, helped by higher income.

The company had reported a consolidated net profit of Rs 7.18 crore in the quarter ended December 2020, it said in a regulatory filing.

Total income of the company rose to Rs 226.88 crore in the quarter, from Rs 184.86 crore in year-ago period. Total expenses also increased to Rs 216.93 crore, as against Rs 175.23 crore earlier.

Gurugram-based Kamdhenu is into manufacturing of high-grade TMT bars and paints.

In a separate statement, the company said its steel business contributed 65.8 per cent to revenues in the third quarter of the ongoing fiscal, while the paint business accounted for 34.2 per cent.

Satish Kumar Agarwal, Chairman and Managing Director (CMD), Kamdhenu Group, said despite the ongoing third wave of COVID-19, the company has delivered positive numbers. The company did not witness any material impact on its business.

"Demand for our products have remained strong during the quarter driven by festive season. Demand for decorative paints has been witnessing strong traction over past few quarters and we expect this momentum to continue on back of shortening of repainting cycle, housing demand and consumer preference to build pucca houses," he said.

The company expects good demand for TMT in the coming months, he said adding Kamdhenu has plans to enhance the annual steel TMT capacity from 38 lakh tonnes to 50 lakh tonnes through franchisee route in next two years.

V-Guard Industries' net profit declines 31 pc to Rs 53.9 cr in Dec quarter

Consumer electronics maker V-Guard Industries on Wednesday reported a 31 per cent decline in consolidated net profit to Rs 53.92 crore for the third quarter ended December 31, 2021.

The company had posted a consolidated net profit of Rs 78.25 crore in the same quarter last fiscal, V-Guard Industries said in a statement.

Its consolidated revenue from operations during October-December 2021 stood at Rs 967.38 crore, compared with Rs 835.04 crore in the year-ago period, it added.

While consumer durables and kitchen appliances grew well, hyperinflation in input costs has had some impact on gross margins, the company said.

Commenting on the performance, V-Guard Industries Managing Director Mithun K Chittilappilly said, "This quarter started with good momentum. However, the growth muted towards the end of the quarter with the start of the third wave."

He further said the sharp increase in commodity prices has had some impact on gross margins. "While we have taken pricing actions to offset a major part of the cost inflation, some more actions will follow in the ensuing months."