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Tata Consumer Products (TCP) reported a profit of ₹53.90 crore for the quarter ended March 31, 2021, recovering from a loss of ₹76.49 crore in the corresponding quarter last year.
TCP’s revenue increased by 27 per cent to ₹3.080.18 crore from ₹2.426.96 crore during the period.
A final dividend of ₹4.05 per equity share was recommended subject to approval by the members of the ensuing Annual General Meeting.
For the quarter, the India packaged beverages business recorded a 53 per cent value growth and 23 per cent volume growth. The India foods business registered a 22 per cent revenue growth and 21 per cent volume growth.
TCP subsidiary NourishCo sustained growth momentum during the quarter with a 86 per cent revenue growth, albeit on a low base impacted by Covid in March 2020.
F&B business
Sunil D’Souza, Managing Director & CEO of Tata Consumer Products, said, “We delivered yet another quarter of strong revenue growth, driven by double-digit volume growth in India business. The integration of our food and beverage businesses in India is complete as committed and we have started seeing synergy benefits. During the year, we have stepped up our distribution reach, invested behind our brands, and focused on premiumisation in our core portfolio.”
According to the company’s projections, the second wave of Covid-19 in India creating uncertainty in the near term, but the outlook for Consumer Staples remains stable.
“International business will be lapping Covid-induced high base in next quarter – our focus will be to continue expansion beyond black tea.” TCP said in an investor presentation.
“Overall, this year, despite the pandemic, we completed the integration of India business, made significant progress in our transformation journey, delivered strong earnings growth in the face of unprecedented inflation in a key raw material, while prioritising the safety and well-being of our people. Going forward, we will continue to make consistent progress against all our strategic pillars and create value for all stakeholders,” he added.
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