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Informist, Thursday, Jan. 30, 2025

 

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--Tata Consumer Oct-Dec consol net profit INR 2.79 bln 
--Analysts saw Tata Consumer Oct-Dec consol net profit INR 3.26 bln 
--Tata Consumer Oct-Dec consol net profit INR 2.79 bln, unchanged on year 
--Tata Consumer Oct-Dec consol revenue INR 44.44 bln vs INR 38.04 bln yr ago 
--Tata Consumer Apr-Dec consol PAT INR 9.336 bln vs INR 9.337 bln yr ago 
--Tata Consumer Apr-Dec consol sales INR 130.1 bln vs INR 112.8 bln yr ago 
--Tata Consumer Oct-Dec India branded sales INR 28.34 bln vs INR 23.75 bln 
--Tata Consumer Oct-Dec Intl branded sales INR 11.92 bln vs INR 10.28 bln 
--Tata Consumer Oct-Dec consol material cost INR 18.07 bln vs INR 13.45 bln 
--Tata Consumer Oct-Dec consol EBITDA INR 5.78 bln, flat on year 
--Tata Consumer Oct-Dec consol EBITDA affected by high tea cost in India 
--Tata Consumer Oct-Dec packaged beverages revenue up 10%, volumes up 7% 
--Tata Consumer Oct-Dec salt market share up 110 bps 
--Tata Consumer Oct-Dec intl business revenue up 8% 
--Tata Consumer Oct-Dec tea price increase helped offset tea cost increase 
--Tata Consumer: Tata Sampann portfolio grew 23% in Oct-Dec 
--Tata Consumer Oct-Dec consol EBITDA margin 13%, down 210 bps on year 
--Tata Consumer: E-commerce channel grew 59% in Oct-Dec 
--Tata Consumer: Modern trade grew 14% in Oct-Dec 
--Tata Consumer Oct-Dec India foods sales INR 13.91 bln, up 31% on yr 
--Tata Consumer Oct-Dec India beverage sales INR 15.19 bln, up 16% on yr 
--Tata Consumer Oct-Dec Intl ops revenue INR 11.07 bln, up 8% on year 
--Tata Consumer Oct-Dec non-branded biz sales INR 4.46 bln, up 9% on yr 
 

 

By Steffy Maria Paul and Akshita Kumar

 

MUMBAI – Tata Consumer Products Ltd.'s consolidated net profit for the December quarter remained unchanged from a year ago as the growth in its revenue failed to outpace the rise in expenses. Though the company's on-year growth in revenue hit a 15-quarter high in the latest quarter, it was offset by expenses which also rose to a 15-quarter high.

 

The fast-moving consumer goods company reported a consolidated net profit of INR 2.79 billion for the quarter, unchanged from a year ago. This fell well short of analysts' estimate of INR 3.26 billion. Sequentially, the net profit fell over 23%, the steepest fall in seven quarters. The company reported a consolidated revenue of INR 44.44 billion for the December quarter, up 17% on year from INR 38.04 billion a year ago. Analysts had expected the company to post a consolidated revenue of INR 44.04 billion for the quarter. Sequentially, the company's revenue rose 5%.

 

For the December quarter, the tea retailer reported total expenses of INR 40.87 billion, up 22% on year. The cost of raw materials was INR 18.07 billion, up 34% on year, the highest in 15 quarters. The company's purchase of stock-in-trade rose around 17% on year to INR 8.59 billion. For the nine months ended December, Tata Consumer's net profit was unchanged at INR 9.34 billion from a year ago. Its revenue rose 15% on year to INR 130.10 billion.

 

The fast moving consumer goods company's consolidated revenue from the India business for the December quarter was INR 28.34 billion, up 19% on year. Its international business revenue was INR 11.92 billion, up nearly 16% on year. The company's consolidated earnings before interest, tax, depreciation and amortisation for the quarter was INR 5.78 billion, unchanged on year. The consolidated EBITDA was affected by high tea costs in India, the company said in its investor presentation. The EBITDA margin for the December quarter was 13%, down 210 basis points on year. If tea prices in India had been steady in the December quarter, the consolidated EBITDA margin for the quarter would have risen by 75-100 basis points, the company said.

 

The company's packaged beverages revenues rose 10%, with volumes growing 7%. Its salt market share rose by 110 basis points, the company said. For the December quarter, the company's international business revenue grew 8% and 4% in constant currency. The profitability of the international business continued to improve significantly with a 35% on-year growth.

 

For the December quarter, the India foods business revenue grew 31% on year to INR 13.91 billion. Its India beverages revenue was INR 15.19 billion, up 16% on year. International operations revenue for the December quarter was INR 11.07 billion, up 8% on year and non-branded business sales were at INR 4.46 billion, up 9% on year.

 

The company's Tata Sampann portfolio grew 23% for the quarter. The salt portfolio grew 31%. The e-commerce channel business grew 59% and the modern trade business recorded 14% growth during the quarter, the company said. The company released its financial results for the December quarter after market hours. On Thursday, shares of the company closed at INR 966.70, up 0.7%.  End

 

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

 

Edited by Avishek Dutta

 

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