Tata Consumer Products Q4FY24 profit down by 19% YoY to Rs 217 cr
Mumbai: Tata Consumer Products Ltd, the company behind Tetley tea and Ching's Secret noodles, recorded a net profit (attributable to owners) of Rs 217 crore in the fourth quarter of FY24, marking a 19 percent decline from Rs 269 crore in the corresponding period last year.
According to an exchange filing on April 23, Tata Consumer stated that revenue grew by 8.5 percent to Rs 3,927 crore for the three months ending on March 31.
The EBITDA margin stood at 16 percent, representing a 190 basis points increase.
EBITDA stands for earnings before interest, taxes, depreciation, and amortization, with one basis point equivalent to one-hundredth of a percentage point.
The India Packaged Beverages sector grew by a modest 2 percent in revenue. Tata Consumer Products Ltd maintained its market dominance in the tea segment within the E-commerce channel.
Coffee performed exceptionally well, achieving a remarkable 45 percent revenue growth for the quarter.
Nourishco, the ready-to-drink (RTD) business, reported a notable 13 percent revenue growth in the quarter, contributing to a total growth of 33 percent for the fiscal year 2024.
The company continued to enhance its sales and distribution network, expanding its overall reach to 4 million outlets by March 2024.
This expansion was supported by the addition of over 1300 distributors in the fiscal year 2024, particularly targeting Rurban markets to deepen its penetration.
Diversifying channels played a crucial role in driving growth and fostering innovation.
The E-commerce channel witnessed a significant 35 percent growth, while Modern Trade recorded a 9 percent growth in the fiscal year 2024.
E-commerce sales accounted for 11 percent of the company's India business in fiscal year 2024, up from 9 percent the previous year.
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