Tata Consumer Products Q3 Results | Net profit falls 17% to ₹302 crore, misses estimates

Tata Consumer Products Ltd (TCPL) on Wednesday (February 7) reported a 17.3% year-on-year (YoY) decline in net profit at ₹301.5 crore for the third quarter that ended December 31, 2023.

In the corresponding quarter last year, Tata Consumer Products posted a net profit of ₹364.4 crore, the company said in a regulatory filing. CNBC-TV18 poll had predicted a profit of ₹350 crore for the quarter under review.

The company’s revenue from operations increased 9.5% to ₹3,803.9 crore against ₹3,474.5 crore in the corresponding period of the preceding fiscal. CNBC-TV18 poll had predicted revenue of ₹3,800 crore for the quarter under review.

At the operating level, EBITDA increased 26.1% to ₹572.4 crore in the third quarter of this fiscal over ₹453.7 crore in the corresponding period in the previous fiscal. CNBC-TV18 poll had predicted an EBITDA of ₹546 crore for the quarter under review.

The EBITDA margin stood at 15.1% in the reporting quarter compared to 13.1% in the year-ago period. EBITDA is earnings before interest, tax, depreciation, and amortisation. CNBC-TV18 poll had predicted a margin of 14.4% for the quarter under review.

India & International business

For the quarter, the India packaged beverages business delivered 4% revenue growth. Coffee continued its strong performance with a revenue growth of 32% for the quarter.

The India foods business grew 13%, continuing its double-digit growth trajectory for the quarter. The value-added salt portfolio continued its strong momentum and recorded 23% revenue growth during the quarter, in line with our premiumisation agenda.