Tata Consumer Products Ltd on Tuesday reported a 26.69 per cent decline in consolidated net profit to ₹212.26 crore in the fourth quarter ended March 31, 2024, impacted by exceptional items related to costs of amalgamation, acquisitions, asset write-downs and fair value loss on financial instruments.

The company had posted a consolidated net profit of ₹289.56 crore in the same period a year ago, Tata Consumer Products Ltd (TCPL) said in a regulatory filing.

Consolidated revenue from operations in the quarter under review stood at ₹3,926.94 crore as against ₹3,618.73 crore, it added.

During the quarter, the company said it incurred exceptional items of ₹215.8 crore.

"Exceptional item for the current quarter represents costs relating to scheme of arrangement of ₹91 crore, costs related to acquisitions of ₹10 crore, asset write-down of ₹62 crore and fair value loss on financial instruments of ₹53 crore," TCPL said in the filing.

The company said its India packaged beverages business delivered 2 per cent revenue growth while the foods business grew 20 per cent, continuing its double-digit growth trajectory.

The international business revenue grew 7 per cent with strong share gains across all major retail partners in the UK, while in the US the Tata Raasa read to eat range got listed in 100 Stop & Shop stores.

As for Tata Starbucks, the company said,"In line with our store addition plans, we added 29 net new stores during the quarter and entered 6 new cities.".

For the fiscal ended March 31, 2024, TCPL said its consolidated net profit was at ₹1,215.4 crore as compared to ₹1,320.14 crore in the previous fiscal.

Consolidated revenue from operations in FY24 was at ₹15,205.85 crore as compared to ₹13,783.16 crore in FY23.

"During the year, we recorded growth in India tea and salt businesses. Our premiumisation agenda continues to progress well with the premium portfolio in both tea and salt showing good growth and contributing to an increasing share of the overall portfolio," TCPL Managing Director & CEO Sunil D'Souza said.

He further said, "Our growth businesses -- Tata Sampann, RTD (ready to drink), Tata Soulfull, Tata SmartFoodz -- continued their strong growth trajectory with a revenue growth of 40 per cent in FY24. Tata Starbucks made consistent progress in its expansion agenda with a store footprint spanning 61 cities.

D'Souza said the recently announced acquisitions- Capital Foods and Organic India -- will be significant value creators for the company, enabling expansion into high-growth, high-margin categories.

"The front-end and back-end integration for Capital Foods was completed within 60 days of transaction close. The transaction for Organic India closed on April 16 and we will focus on fast-tracking integration of the business to unlock value," he said.