24-Apr-2024
2 mins read
Tata Consumer Products released its Q4 results for the financial year 2024 on Tuesday evening after the market bell. It reported a Net profit of Rs 217 crore for the last quarter of FY24, compared to Rs 269 crore in the same period last year. The net profit fell by 19% compared to last year's period.
Tata Consumer Products reported revenue from operations of Rs 3,927 crore, a rise of 8% against Rs 3,618 crore on a Year-on-Year basis. The revenue growth was fueled by strong performance in the India business, which grew by 10%.
The firm reported a consolidated EBITDA of Rs 631 crore, up 22% year over year. For the whole year, EBITDA was Rs 2,323 crore, up 24%.
The company’s board recommends a final dividend of Rs 7.75 equity per share for 2023-24. Members will approve the dividend within 30 days of its declaration.
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Tata Consumer Products Business Segment Performance
The India package beverage business segment delivered a revenue growth of 2%. The company continued to retain the market leadership in tea and e-commerce channels.
Coffee continued its strong performance with 45% revenue growth in the last quarter. In FY24, premium and sub-premium segments outperformed the overall business and accounted for two-thirds of Tea revenue. Gold Premium and Tetley Green franchises delivered strong results.
Company’s international business grew by 7%. In UK, the company saw a strong market share gain across all major retail partners.
Tata Starbucks added 29 new stores during the quarter and expanded into 6 new cities. In FY24, the company added 95 stores.
Tata Consumer Products team said, its premiumization agenda continues to progress well with the premium portfolio in both tea and salt. It shows good growth and contributes to an increase in share of the overall portfolio.
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