| Revenue from operations rose 8.52% year on year (YoY) to Rs 3,926.94 crore in March 2024 quarter. Profit before exceptional items and tax stood at Rs 509.46 crore in fourth quarter of FY24, up 11.61% YoY. The company reported an exceptional loss of Rs 215.80 crore in Q4 FY24. EBITDA grew 22% YoY to Rs 631 crore while EBITDA margin increased to 16.1% in Q4 FY24 from 14.3% posted in Q4 FY23. The company said that the India Packaged Beverages business delivered 2% revenue growth. Coffee continued its strong performance with a revenue growth of 45% in the quarter. For the quarter, the India Foods business delivered 20% revenue growth continuing its double-digit growth trajectory. The revenue of the International business revenue grew 7% (more than 5% in constant currency) terms during the period under review. Tata Starbucks recorded revenue growth of 7% for the quarter. The company opened 29 net new stores during the quarter and entered 6 new cities. This year saw the highest store addition at 95 stores This brought the total number of stores to 421 across 61 cities. On full year basis, the company?s consolidated net profit shed 4.44% to Rs 1,150.33 crore on 10.32% increase in revenue from operations to Rs 15,205.85 crore in FY24 over FY23. Sunil D?Souza, managing director & CEO of TCPL, said: ?During the year, we recorded growth in India tea and salt businesses. Our premiumization agenda continues to progress well with the premium portfolio in both tea and salt showing good growth and contributing to an increasing share of the overall portfolio. Our growth businesses (Tata Sampann, RTD, Tata Soulfull, Tata SmartFoodz) continued their strong growth trajectory with a revenue growth of 40% in FY24. We also delivered strong performance in our International markets, along with significant margin improvement. The UK business saw its EBITDA margin touch historic highs led by restructuring initiatives taken during the year. In India, we solidified our sales & distribution infrastructure; our total reach has expanded to 4 million outlets as of March ?24. We implemented split routes in all 1 million + population towns and have seen significant improvement in assortment and growth. We are strengthening our Rurban focus and are deepening reach into rural areas. Alternate channels (modern trade and e-commerce) recorded significant momentum and continue to be strong growth drivers.? Meanwhile, the board recommended a final dividend of Rs 7.75 per equity share for the financial year ended 31 March 2024. Tata Consumer Products is a focused consumer products company uniting the principal food and beverage interests of the Tata Group under one umbrella. The company's portfolio of products includes tea, coffee, water, RTD, salt, pulses, spices, ready-to-cook and ready-to-eat offerings, breakfast cereals, snacks and mini meals. The scrip closed 0.07% higher at Rs 1,173.25 on the BSE. Powered by Capital Market - Live News |