Shares of Tata Consumer Products dipped 6 per cent to Rs 614.25 on the BSE in the intra-day trade on Friday after the company reported a per cent rise in its consolidated earnings before interest, taxes, depreciation, and amortization (Ebitda) at Rs 317 crore for the quarter ended March 2021 (Q4FY21). Ebitda margin, too, contracted by 253 basis points (bps) to 10.44 per cent from 12.97 per cent in Q4FY20.
During the quarter under review, Tata Consumer Products revenue grew by 26 per cent (24 per cent in constant currency terms) on year-on-year (YoY) basis to Rs 3,037 crore from Rs 2,405 crore in the year-ago quarter. The company incurred Rs 63.9 crore expenses on account of loss from disposal of overseas business entity. With lower Ebitda margins and extraordinary expenses, profit after tax was at Rs 74 crore as against a loss of Rs 133 crore YoY.
The company in its filing stated, âGroup 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.â 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 companyâs consolidated expenses were up at Rs 10,381.70 crore from Rs 8,664.84 crore.
Puneet Das elevated as the new president of Tata’s packaged beverages for India and South Asia
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Puneet Das elevated as the new president of Tata’s packaged beverages for India and South AsiaBy
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Synopsis
Prior to this promotion, Puneet Das was senior vice president - marketing for the India beverages business. Das has been with TCP since 2017 and handled Tata Tea brand, the world’s second largest tea company. He also formulated the marketing strategy for Tata Coffee Grand.
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In the new role, Das will head Tata’s key beverage brands including Tata Tea, Tetley, Tata Coffee Grand, Himalayan Natural Mineral Water and Tata Gluco Plus.
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Indian conglomerate Tata Group is well-known for its steel, defence, automobile, and other arms. However, over the years, its fast-moving goods (FMCG) arm has steadily gained prominence.
Tata Consumer Products’ history dates back to 1964 when Tata Finlay was formed in alliance with tea giant James Finlay. In 1976, Tata Group took over the production and marketing, and started running the company by itself. Over the years, the giant has forayed into other categories such as coffee, salt, tea, water, and other products under the FMCG arm
Tata Global Beverages (TGB). In 2019, this arm was merged with Tata Chemicals to form Tata Consumer Products.
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