Tata Consumer Products Q4 net loss at Rs 122.48 crore
The company, earlier known as Tata Global Beverages Ltd, had posted a net profit of Rs 35.99 crore in the January-March period a year ago, it said in a BSE filing.
Net sales rose 35.45 per cent to Rs 2,405.03 crore during the quarter under review, as against Rs 1,775.46 crore in the year-ago period.
TCPL Managing Director and CEO Sunil D'Souza said, "Nearly all our businesses have recorded good growth during the quarter. It has in many ways, been an unprecedented time for the organization in recent months and we geared up successfully to make sure our essential products reach consumers during this period."
The company was able to adapt quickly to changes in consumer trends and buying behaviour through our delivery channels, he added.
Total expenses stood at Rs 2,179.41 crore, compared to Rs 1,649.65 crore earlier, up 32.11 per cent.
After merging the consumer products business of Tata Chemicals with Tata Global Beverages, the company was renamed TCPL. It owns brands like Tata Salt, Tata Tea, Tetley, Eight O'Clock Coffee and Himalayan water.
"This is the maiden result of the combined entity," the company said.
During the January-March quarter of this fiscal, TCPL's revenue from its India beverages segment was at Rs 754.83 crore, while the domestic food business stood at Rs 524.44 crore.
"For the full year, on a like to like basis, the India foods business clocked a 12 per cent revenue growth. For the quarter, the business registered a 9 per cent revenue growth," it said.
Its international beverages segment reported a revenue of Rs 874.41 crore as against Rs 821 crore in Q4 FY2018-19.
"During the financial year, International Beverages business grew by 0.4 per cent on constant currency basis (excluding Czech which we exited this year). For the quarter, the business registered a 7 per cent revenue growth," it said.
There was growth in Q4 across Tetley, Eight O'Clock brands and private labels in the international markets of US, UK and Canada, driven by consumers bulk buying to stock pantries, it added.
For the full fiscal 2019-20, TCPL's net profit was Rs 460.11 crore, up 0.68 per cent from Rs 456.98 crore in the previous year.
Net sales in the fiscal stood at Rs 9,637.42 crore, up 32.90 per cent, compared to Rs 7,251.50 crore in 2018-19.
"Going forward, we will leverage the learnings from this period to accelerate growth and deliver value to our consumers," D'Souza said.
In a separate filing, Tata Consumers said its board on Thursday recommended a final dividend of Rs 2.70 per equity share for the financial year 2019-20.
"The Dividend, if approved by the members at the ensuing Annual General Meeting (AGM), will be paid after the AGM," it said.
Shares of Tata Consumer Products Ltd on Thursday settled at Rs 362.85 on BSE, up 2.02 per cent from the previous close. KRH ABMABM