Tata Consumer Q3 results 2024 record impressive growth with a 27% rise in profits despite challenges with a decline in net profits by 17%.
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Tata Consumer Q3 Results Down 17.26% to ₹301.51 Crore
Tata Consumer Products Ltd (TCPL) faced a 17.26% dip in consolidated net profit to ₹301.51 crore in the December quarter, primarily due to lower contributions from associate and joint venture firms.
Robust Growth in Tata Group FMCG Arm’s Profit Before Tax
The consolidated profit before exceptional items and tax for Tata Group’s FMCG arm witnessed a substantial 27.12% increase, reaching ₹513.27 crore in the October-December period.
TCPL’s revenue from operations showed resilience, rising by 9.47% to ₹3,803.92 crore during the quarter under review, compared to ₹3,474.55 crore in the corresponding period last year.
India Business Shines with 10% Growth, International Market Up 10.58%
TCPL reported a robust 10% growth in its India business, with the packaged beverages business and coffee segment leading the way. In the international market, revenue saw a 10.58% surge, driven by strong performances in the UK and the US.
TCPL’s Tata Sampann portfolio experienced an impressive 40% growth in the December quarter, contributing to the overall success of the India Foods business.
Tata Starbucks Expands with 22 New Stores in Q3
Tata Starbucks, a joint venture with Starbucks Corporation, added 22 new stores during the quarter, reaching a total of 392 stores across 55 cities.
Strategic Acquisitions and Future Plans
During the quarter, TCPL announced the acquisition of Capital Foods and Organic India with a combined enterprise value of ₹7,000 crore. The integration process has commenced, aiming for completion within 100 days.
With input from Mint
