Companies

Tata Consumer reports 43% decline in Q1 profits

Our Bureau Mumbai | Updated on August 04, 2021

The company’s revenue from operations was up by 11%

Tata Consumer Products Limited's profits have declined by 43 per cent to ₹185 crore during the first quarter ended June 2021 compared to ₹327 crore in the corresponding quarter last year.

Revenue from operations increased by 11 per cent to ₹3,008.46 crores in Q1FY22 when compared to Q1FY21, where it was ₹2,713.91 cores.

According to a press statement, increase in revenue was mainly driven by 28 per cent growth in India Beverages segment and 20 per cent in India foods.

The international business reported lower revenue in comparison to the previous year. Sunil D’Souza, Managing Director and CEO of Tata Consumer Products said: “With the second wave of COVID receding in India, we are seeing a V-shaped recovery since the latter part of June. In our international business, we are seeing a return to pre COVID demand trends for tea and coffee. Given the dynamic environment, we will continue to stay agile to accelerate the growth momentum across our businesses and keep making progress in our transformation agenda to deliver competitive and profitable growth.”

Published on August 04, 2021

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