Tata Consumer Products Ltd (TCPL) on Thursday reported a 36.25 per cent rise in consolidated net profit 389.43 crore for the second quarter.
The company posted a net profit of 285.80 crore for the July-September period a year ago.
Revenue from operations up 10.87 percent 3,363.05 crore during the quarter under review 3,033.12 crore in the same period last year.
total cost of Tata Consumer Products ,TCPL) was on 3,021.90 crore, up 11.55 percent 2,708.91 crore earlier.
Sunil D’Souza, Managing Director and CEO, TCPL said, “We delivered another quarter of double-digit revenue growth, balancing margins despite inflationary pressures, currency weakness and some gaps in pricing in international markets.”
Tata Consumer Products Ltd.’s revenue from Indian market up 9.19 percent in July-September 2,159.95 crore, as against 1,978.08 crore in the year-ago period.
He added that while the branded tea segment in India was sluggish, TCPL continued to gain volume market share.
“In our other core business of salt, despite significant inflation-led pricing, we have continued to gain market share and consolidate our leadership position,” D’Souza said.
Its international business contributed to the revenue of 838.87 crore, compared to 7.37 per cent Earlier 781.27 crores.
“While unprecedented inflation and unfavorable currency movements in our international business weighed on our margins this quarter, we will drive structural cost savings initiatives to improve the trajectory going forward. Our transformation agenda to become a leading FMCG company is on track. Continuing,” D’Souza said.
Shares of TCPL closed on Thursday 770.25 on the BSE, up 0.25 per cent from the previous close.
catch all corporate news And updates on Live Mint. download mint news app to receive daily market update & Live business News,