Tata Consumer Products adds 3.6% as Q3 profit jumps on strong volumes

NEW DELHI – Shares of Tata Consumer Products jumped 3.6 per cent in early trade Thursday as the FMCG player reported a 22.19 per cent jump in October-December consolidated net profit to Rs 290.07 crore, helped by volume-driven growth in the domestic market.

The company had reported a net profit of Rs 237.38 crore in the same period a year ago.

The counter rose to a high of Rs 769 against Rs 742.45 on the National Stock Exchange.


The fast-moving consumer goods company reported a 4.5 per cent year-on-year growth in consolidated revenue from operations at Rs 3,208.4 crore for the quarter, reports said.

“We delivered strong performance with improved profitability in a challenging operating environment," reports quoted Managing Director and Chief Executive Officer Sunil D'Souza as saying.

The company's domestic packaged beverage products portfolio reported a 6 per cent volume growth from the year-ago quarter whereas the foods business saw volume growth of 4 per cent on-year, reports said.

In the international business, sales fell on a year-on-year basis due to a higher base of the year-ago quarter, reports said, adding that Tata Starbucks, on the other hand, recorded a 60 per cent growth in revenues aided by the reopening of the economy in the reported quarter.

"There has been a strong sequential recovery in revenue since the opening up a post-second wave of Covid, but the third wave is posing some operational challenges," the company was quoted as saying.

The company posted a strong operating performance in the quarter with consolidated operating profit rising 28 per cent on year to Rs 468 crore, reports said.