Tata Consumer Products shares rose 3.6% in early trading Thursday as the FMCG company announced a 22.19% increase in Q3 net profit to Rs 290.07 crore, aided by volume-driven growth in the domestic sector.
In the same quarter a year before, the business generated a net profit of Rs 237.38 crore.
On the National Stock Exchange, the counter reached a high of Rs 769 versus a low of Rs 742.45.
According to statistics, the fast-moving consumer products company’s combined revenue from operations increased by 4.5 percent year on year to Rs 3,208.4 crore in the third quarter. “We delivered strong performance with improved profitability in a challenging operating environment,” said Sunil D’Souza, Managing Director and Chief Executive Officer.
According to reports, the company’s domestic packaged beverage goods portfolio increased volume by 6% year on year, while the foods division increased volume by 4% year on year.
The sales in the foreign business declined year on year due to a bigger base in the previous quarter, but Tata Starbucks achieved a 60% increase in revenues in the reporting quarter, buoyed by the economy’s reopening. According to estimates, the business had a robust financial performance in the quarter, with combined operating profit increasing by 28% year on year to Rs 468 crore.
