Integrated Food & Beverage company Tata Consumer Products reported a consolidated income of Rs 3,080.18 crore in Q4 FY 2021, a rise of 26.91 per cent from Rs 2,426.96 crore in Q4 FY 2020. Meanwhile, the Group consolidated net profit for the quarter ended March 31, 2021 was at Rs 74.35 crore. The net profit after taxes (excluding share of net profit in associates and joint ventures using equity method) was at Rs 133.34 crore in Q4 FY 2021.
The company in its filing stated, “Group Consolidated Net Profit is higher as compared to corresponding quarter of the previous year on account of lower exceptional items and lower share of losses in Associates and Joint Ventures.” In Q4 2020, the company had reported a loss of Rs 122.48 crore.
Mumbai-based company in its filing stated that in FY 2021, the company reported Group consolidated net profit of Rs 930.46 crore as against Rs 460.11 crore in FY 2020, a rise of over 100 per cent. In FY 2021, the consolidated income of the company was at Rs 11,723.41 crore.
In FY 2021, the company’s consolidated expenses were up at Rs 10,381.70 crore from Rs 8,664.84 crore.
In addition, the board of directors recommended a final dividend of Rs 4.05 per equity share of Re 1 each (405 per cent), for the financial year 2020-21.
The company stated, “For the quarter, revenue from operations increased by 26 per cent (24 per cent in constant currency) as compared to the corresponding quarter of the previous year, mainly driven by volume and value growth in the India branded business and improved performance of non-branded business.”
In addition, profit before exceptional items and tax at Rs 262 crores is higher by 6 percent as compared to corresponding quarter of the previous year, mainly on account of growth in revenue and good control over expenditure, stated the company. However, margins were impacted by tea cost inflation in India.
During the quarter and financial year ended March 31, 2021, the Group’s performance was not adversely impacted by the Covid pandemic but recorded good top line growth in many markets, except for some businesses, in particular, those in out of home consumption sectors. “Commodity costs were adversely impacted in India. There can be future business uncertainties depending on developments in relation to the pandemic, particularly those arising from the second wave in India, which could include market closures, supply constraints and commodity cost volatility,” the company stated in its filing.
Tata Consumer Products's portfolio of products includes tea, coffee, water, salt, pulses, spices, ready-to-cook offerings, breakfast cereals, snacks and mini meals.
Tata Consumer Products is the second largest branded tea company in the world. Its key beverage brands include Tata Tea, Tetley, Eight O’Clock Coffee, Tata Coffee Grand, Himalayan Natural Mineral Water, Tata Water Plus and Tata Gluco Plus.
Its foods portfolio includes brands such as Tata Salt, Tata Sampann and Soulfull.
In India, Tata Consumer Products has a reach of over 200 million households, giving it an unparalleled ability to leverage the Tata brand in consumer products.
