Tata Consumer Products' consolidated net prof🐼it rose 4.62 per cent to Rs 285.80 crore in the second quarter particularly helped by growth in domestic beverages 🎐and food businesses.
Revenue from operation rose 9.05 per cent to Rs 3,033.12 crore compared to Rs 2,781𝓰.34 crore recorded in the corresponding period last year. Revenue from its beverages business in India grew 14.25 per cent to reach Rs 1,265.86 crore in the second quarter on a year-over-year basis.
"It was a strong quarter under difficult but improving operating conditions. Overall, we grew in double digits and if we adjust for the fact that some business which we sold last year, are not there this year, the growth will be almost 11 per cent (🌊on like to like basis)," TCPL Group CFO L Krishnakumar told PTI.
In its domestic business, the 🦹company continued its growth both in beverages and foods businesses, where it witnessed market share gains in tea and salt, K⭕rishnakumar said. Domestic foods business revenue climbed 22.73 per cent to Rs 712.22 crore as against Rs 580.31 crore.
Tata Starbucks more than doubled its revenue growth on a year-over-year basis owing to a relatively low base last year that was impa𝓀cted by reduced mobility. The coffee shop chain is a 50-50 joint venture between Ta🥂ta Consumer Products and Starbucks Corporation.
Tata's FMCG arm saw a 10.02 per cent spike at Rs 2,708.91 crore in the second quarter ▨compared to the year-ago period.
(With inputs from PTI)
