Tata Consumer Products Q4 results: Tata group firm beats analysts' estimates with 23.5% PAT growth

Tata Consumer Products Q4 results: Tata Consumer Products, a Tata group company, on Tuesday reported a net profit of Rs 268.6 crore for the quarter ended March 2023, marking an increase of 23.5 per cent compared with the corresponding period a year ago. 

The company's revenue for the three-month period came in at Rs 3,618.7 crore as against Rs 3,175.4 crore for the year-ago period, according to a regulatory filing. 

Both top-line and bottom-line exceeded analysts' estimates. According to Zee Business research, Tata Consumer Products' consolidated quarterly net profit was estimated at Rs 254 crore and revenue at Rs 3,510 crore.

Tata Consumer Products — whose popular brands include Tata Salt, Tetley, Tata Coffee, Tata Starbucks and Tata Sampann — reported Rs 518 crore in earnings before interest, taxes, depreciation and ammortisation (EBITDA), an increase of 13 per cent on a year-on-year basis, according to a statement. 

“We delivered strong topline growth of 11 per cent while balancing margins in an extremely volatile macro environment this fiscal (year). Importantly, we delivered strong earnings growth of 28 per cent," said Sunil D’Souza, Managing Director and CEO, Tata Consumer Products. 

"During the quarter, we saw early signs of green shoots in our branded tea business, with the interventions we put in place starting to yield positive results. In our other core business of salt, we continued to execute strongly and have gained market share despite pricing actions taken to mitigate inflation. Our innovation across categories has picked up pace significantly with the number of new product launches in FY23 being almost two times of FY22," he said.

Tata Consumer's growth businesses, Tata Sampann, Tata Soulfull and NourishCo, continued a strong growth trajectory, accounting for 15 per cent of the company's India business for the year.

"Tata Starbucks recorded a strong performance, hitting a four-digit topline along with achieving its highest-ever number of annual store additions," D’Souza added. 

Tata Consumer Products shares ended 0.3 per cent higher at Rs 734.3 apiece on BSE ahead of the earnings announcement. 

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