Tata Consumer Products Ltd profit rises 36% to Rs 389 crore
Tata Consumer Products Ltd (TCPL) on Thursday reported a 36.25 per cent rise in consolidated net profit at Rs 389.43 crore for the second quarter ended September 30, 2022, led by strong growth in the domestic market.
The company had posted a net profit of Rs 285.80 crore for the July-September period a year ago, TCPL, earlier known as Tata Global Beverages Ltd, said in a BSE filing.
Revenue from operations climbed 10.87 per cent to Rs 3,363.05 crore during the quarter under review as against Rs 3,033.12 crore in the corresponding period last year.
Total expenses of the Tata group’s FMCG arm were at Rs 3,021.90 crore, up 11.55 per cent from Rs 2,708.91 crore earlier.
Speaking to PTI, TCPL Group CFO L. Krishnakumar said the overall growth was “led by the strong performance by the India business”, especially the food business, which was a “star performer”.
Moreover, TCPL’s expansion of its distribution network in the domestic market and new product launches contributed to the growth in the July-September quarter, he added.
TCPL’s revenue from the Indian market in July-September rose 9.19 per cent to Rs 2,159.95 crore against Rs 1,978.08 crore in the year-ago period.
During the quarter, TCPL’s India foods business registered 29 per cent revenue growth. Its salt portfolio also continued its momentum and recorded double-digit revenue growth.