Tata Consumer Products Q4 Results: Profit Falls 23%
Tata Consumer Products' Q4 net profit have taken a hit due to a one-off exceptional item of Rs 216 crore.
Tata Consumer Products Ltd.'s net profit declined in the fourth quarter of fiscal 2024. However, its revenue rose 9% during the January-March period, according to its exchange filing issued on Tuesday. The company's profit have taken a hit due to a one-off exceptional item of Rs 216 crore.
Tata Consumer Products Q4 FY24 (Consolidated, YoY)
Revenue up 8.5% at Rs 3,926.94 crore versus Rs 3,618.73 crore.
Ebitda up 23% at Rs 629.6 crore versus Rs 511.67 crore.
Margin at 16.03% vs 14.13%.
Net profit down 22.5% at Rs 267.71 crore versus Rs 345.58 crore.
Reported exceptional loss of Rs 216 crore.
Board recommended dividend of Rs 7.75 per share.
Tata Consumer Products showcased consolidated revenue growth of 9% in Q4 FY24, with an 8% growth in constant currency terms. Despite challenges, the company's India beverages segment achieved a commendable 3% growth in Q4, driven by 7% growth over the entire fiscal, buoyed by a 2% increase in tea volume.
The India foods segment emerged as a standout performer, recording 20% revenue growth in Q4 FY24, including the acquisition of Capital Foods; and sustained momentum with 18% growth for the full fiscal, with 5% volume growth.
The international business segment also contributed significantly, registering a 7% revenue increase in Q4 FY24 (5% in constant currency terms). The company's 'India Growth' businesses rose by 40% in FY24 and accounted for 18% of the India business.
Coffee segment had revenue growth of 45% YoY and packaged beverages business in India delivered revenue growth of 2% YoY.
Premium and sub-premium segments outperformed the overall business in FY24; sub-premium segment accounted for over two thirds of India's tea revenue in FY24.