Tata Consumers Q4: Net profit up 21% to ₹289 cr, dividend declared
FMCG Tata Consumers on Tuesday reported a rise of 21 per cent in consolidated net profit to ₹289.6 crore in the quarter ended 31 March, 2023. This is against ₹239 crore in the corresponding quarter last year.
The consolidated revenue from operations during the fourth quarter rose by 14 per cent to ₹3,619 crore, as compared to ₹3,175 crore in the year-ago period.
The board has recommended a final dividend of ₹8.45 per equity share of ₹1 each (845%), for the financial year 2022-23.
The revenue growth was mainly driven by underlying growth of 15% in India business, 6% in international business and 9% in non-branded business.
For the quarter, the India Packaged Beverages business delivered 1% revenue growth and 3% volume growth, recording a sequential recovery. The India Foods business delivered 26% revenue growth and 8% volume growth, bringing to close a strong year for the foods business when revenue grew 26%.
Coffee continued its strong performance with a revenue growth of 31% YoY.
Tata Starbucks recorded strong revenue growth of 48% for the quarter, bringing FY23 growth to 71%, albeit on a base that was impacted by the pandemic
(This is a developing story, more to come)
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