New Delhi, May 4 (PTI) Tata Consumer Products Ltd (TCPL) on Wednesday reported an over three-fold jump in consolidated net profit at Rs 239.05 crore for the fourth quarter ended March 2022, helped by growth in underlying profitability and lower exceptional costs.
The company had posted a net profit of Rs 74.35 crore in the January-March period a year ago, TCPL, earlier known as Tata Global Beverages Ltd, said in a BSE filing.
Its revenue from operations rose 4.54 per cent to Rs 3,175.41 crore during the quarter under review as against Rs 3,037.22 crore in the corresponding period last fiscal.
“Group Consolidated Net Profit at Rs 239 crores is higher by 222 per cent mainly aided by growth in underlying profitability and lower exceptional costs,” TCPL said in a post-earning statement.
Total expenses of the Tata Group’s FMCG arm stood at Rs 2,819.60 crore, marginally up from Rs 2,818.34 crore in the year-ago quarter.
“For the quarter, revenue from operations increased by 5 per cent (4 per cent in constant currency) as compared to the corresponding quarter of the previous year, mainly driven by growth in India branded business,” it said.
TCPL’s revenue from the Indian market rose 6.07 per cent during the quarter to Rs 1,953.66 crore, as against Rs 1,841.82 crore in Q4 FY21.
Revenue from India Beverages segment was at Rs 1,190 crore, while India Foods contributed Rs 764 crore.
International business revenue was at Rs 890.19 crore, up 1.16 per cent from Rs 879.91 crore earlier.
Revenue from its non-branded business, which includes plantation and extraction business for tea, coffee and other produce, was at Rs 344.64 crore during the quarter.
For the fiscal year ended March 2022, TCPL’s consolidated net profit rose 9.10 per cent to Rs 1,015.16 crore. It had reported a net profit of Rs 930.46 crore for 2020-21.
Revenue from operations stood at Rs 12,425.37 crore, 7.09 per cent higher than Rs 11,602.03 crore in the preceding fiscal.
TCPL Managing Director and CEO Sunil D’Souza said, “Despite all the macro & operating challenges during the year, we delivered reasonable revenue growth along with improved profitability for the company. In the core businesses, we delivered competitive growth with market share gains in both tea and salt.” TCPL’s out-of-home businesses — NourishCo and Starbucks — both delivered robust performance during the year.
In FY22, TCPL reached new milestones in its sales and distribution transformation agenda.
“Our direct reach is now 1.3 million outlets, and we have taken on a new target of 1.5 million direct outlets coverage by March’23. We have strengthened our distributor network- the total number of distributors has grown 25 per cent y-o-y and the number of rural/ semi-urban distributors has quadrupled,” it said.
Tata Starbucks, a 50:50 joint venture between Tata Consumer Products Ltd and Starbucks Corporation, recorded revenue growth of 76 per cent for the year.
In a separate filing, TCPL said its board on Wednesday recommended a final dividend of Rs 6.05 per equity share of Re 1 each for the financial year 2021-22.
Shares of Tata Consumer Products Ltd on Wednesday settled at Rs 803.90 on BSE, down 2.49 per cent from the previous close. PTI KRH ABM ABM
