Tata Consumer Products on April 25 reported consolidated net profit for the quarter ended March 2023 at Rs 268.59 crore, up 23.46 percent from Rs 217.54 crore in the same quarter last year.
Revenue from operation came in at Rs 3,618.73 crore, registering a growth of 13.96 percent from Rs 3,175.41 crore in the year ago quarter, the company said in a regulatory filing.
The numbers were better than expectations. Net profit was expected to rise a modest 3.7 percent YoY to Rs 245 crore. Topline was expected to grow by 11 percent year-on-year to Rs 3,513 crore.
The Board of the company has recommended a final dividend of Rs 8.45 per share for the financial year 2022-23.
The company said for the quarter, the India Packaged Beverages business delivered 1 percent revenue growth and 3 percent volume growth, recording a sequential recovery. Coffee continued its strong performance with a revenue growth of 31 percent YoY.
The India Foods business delivered 26 percent revenue growth and 8 percent volume growth. The salt portfolio continued its strong momentum and recorded double-digit revenue growth during the quarter and also during the year. The salt portfolio also continued to record market share gains, Tata Consumer said in a release.
Tata Sampann continued its strong trajectory in Q4, recording double-digit revenue growth for the quarter and also for the year, it added. The growth was led by broad-based performance across categories.
Tata Consumer said NourishCo had a landmark FY23, hitting Rs 621 crore in net revenue, up 80 percent led by broad-based performance across products and geographies.
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