Tata Consumer released second-quarter results, revenue increased by 11 percent

Tata Group's FMCG arm Tata Consumer Products Limited (TCPL) said that TCPL's profit declined in the September quarter.

The company's consolidated net profit fell 6.55 percent to Rs 363.92 crore in Q2FY24. Which was Rs 389.43 crore in the same quarter a year ago.

However, the company's consolidated profit before exceptional items and tax increased by 36.43 percent to Rs 505.43 crore in the second quarter of the current financial year from Rs 370.46 crore in the year-ago quarter.

TCPL's revenue from operations during the September quarter increased by 11.02 percent to Rs 3,733.78 crore from Rs 3,363.05 crore.

Apart from this, TCPL's total expenses have increased by 9.8 percent to Rs 3,318.18 crore in the September quarter.

Releasing the financial results, TCPL said that TCPL's overall branded business grew by 11.83 percent during the quarter to Rs 3,353.81 crore. TCPL's branded businesses include tea, coffee, and water among others.

Whereas TCPL's revenue from non-branded business increased by 4.43 percent to Rs 388.28 crore during the quarter as against Rs 371.80 crore.

TCPL's revenue from India business increased by 11.3 percent to Rs 2,404.07 crore. TCPL's total income increased by 12.71 percent to Rs 3,823.61 crore in the September quarter.

TCPL's revenue from international markets grew 13.21 percent to Rs 949.74 crore during the quarter, from Rs 838.87 crore a year ago. Additionally, the 50:50 partnership between Tata and Starbucks - Tata Consumer Products Ltd and Starbucks Corporation - also reported "strong revenue growth" of 14 percent in the September quarter.