Tata Consumer Products slides despite reporting inline December quarter numbers

Tata Consumer Products Share Price: Tata Consumer Products slipped in morning delas on BSE on Thursday (February 8, 2024) after the Tata group company announced mixed December quarter results a day ago.

The stock was down by 1.36 per cent, or Rs 15.85, at Rs 1150.30 at 9:51 am on Thursday.

Tata Consumer Products Q3 Results

The consumer products company reported inline revenues ad margins, which were ahead of Zee Business research expectations.

The company's consolidated profit after tax (PAT) slipped by 17 per cent to Rs 301.50 crore in Q3 from Rs 364 crore in the corresponding period last fiscal.

Revenue from operations jumped by nine per cent to Rs. 3804 crore in the December quarter from Rs 3475 crore Year-on-Year (YOY), against Zee Business research estimates of Rs 3831 crore.

The company reported above-estimate EBITDA, which soared by 26 per cent to Rs. 573 crore in the quarter under review against Rs 454 crore YoY, compared to estimates of Rs 541 crore.

The company's exceptional loss of Rs 91 crore impacted its profits. 

Its salt business clocked its highest-ever monthly market share in the December quarter. 

The Tata Sampann portfolio recorded robust growth of 40 per cent for the quarter under review with robust volume growth. 

A total of 22 net new Starbucks stores were opened in 6 new cities during the quarter.