Tata Consumer Products reports strong financial results for FY24

TAGS

Tata Consumer Products Limited () has announced impressive results for the quarter and fiscal year ending March 31, 2024. The company’s consolidated revenue for the year stood at Rs 15,206 crores, marking a 10% increase, while quarterly revenue reached Rs 3,927 crores, up by 9%. This financial growth is further highlighted by a significant rise in EBITDA, with an annual increase of 24% to Rs 2,323 crores, and profit before exceptional items for the year up by 24% to Rs 2,023 crores.

Key Financial Highlights

– Quarterly Revenue Growth: 9% increase to Rs 3,927 crores.

– Annual Revenue Growth: 10% increase to Rs 15,206 crores.

– EBITDA for FY24: Rs 2,323 crores, up 24%.

– Profit Before Exceptional Items: Annual profit of Rs 2,023 crores, a 24% increase.

See also  Meijer Grocery stores in southeast Michigan : Opening date revealed by Meijer

– Group Net Profit: Reached Rs 427 crores, a surge of 46%, driven by strong operating performance and one-time tax credits.

Strategic Business Updates and Achievements

Throughout FY24, Tata Consumer continued to dominate the e-commerce tea market and saw significant revenue growth across various segments:

Packaged Beverages: Notable 45% growth in the coffee sector and a 2% increase in tea revenues.

– India Foods Business: Achieved a 20% growth, with premium and sub-premium tea segments performing exceptionally well.

– Innovations and Launches: The company maintained a high innovation-to-sales ratio, introducing new products like Tata Tea Gold liquid premix and several campaigns aligning with consumer trends such as health and wellness.

Global and Domestic Expansion

Tata Consumer has also expanded its global footprint, with notable achievements including:

See also  Aditya Birla Fashion and Retail achieves 63% EBITDA growth in Q4FY24 amid market challenges

– International Business: 7% revenue growth with strong performance in the UK and markets.

– Tata Starbucks: Continued expansion with 95 new stores, bringing the total to 421 across 61 cities.

– Digital and Distribution Advances: Launched a cutting-edge AI-enabled commodity procurement platform and significantly expanded distribution channels, achieving a total reach of 4 million outlets.

, Managing Director & CEO of Tata Consumer Products, commented on the results, “We delivered good topline growth of 10% in FY24, but importantly an EBITDA growth of 24% and significant expansion in EBITDA margin.” D’Souza also highlighted the strategic acquisitions of Capital Foods and Organic India, which are expected to be significant value creators for the company.

See also  Tata Consumer Products rebrands TATA Q as TATA Sampann Yumside

Looking ahead, Tata Consumer Products anticipates continued growth driven by its robust product pipeline, strategic acquisitions, and enhanced distribution and digital platforms. The company remains committed to its premiumization agenda and expanding its reach in both urban and rural markets.

Tata Consumer Products Limited’s FY24 performance showcases a strategic execution that is both robust and forward-thinking. The company’s focus on expanding product lines, strategic acquisitions, and enhancing digital capabilities are likely to ensure continued growth and market leadership in the consumer goods sector.


Discover more from Business-News-Today.com

Subscribe to get the latest posts sent to your email.

CATEGORIES
TAGS
Share This