Tata Consumer Products - Price Led Growth In Q3; Tea Procurement Prices Peak Out: ICICI Direct
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Tata Consumer Products Ltd. reported strong revenue growth of 23.1% led by robust growth in India beverage and India foods segment. Overall volume growth was approximately 7%.
The sharp increase (70-80%) in tea procurement prices led the company to take aggressive price hikes in tea. In turn, this resulted in 43% growth in the India beverages segment.
Still price hikes were insufficient to pass on the entire commodity price rise, which impacted India beverage segment margin by 839 basis points.
India food business grew 19% led by 12% volume growth.
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