Tata Consumer Products has reported a consolidated net profit of Rs 53.9 crore for the March 2021 quarter, against a loss of Rs 76.49 crore in the year-ago quarter.
Tata Consumer Products said, "Consolidated net profit is higher as compared to the corresponding quarter of the previous year on account of lower exceptional items and lower share of losses in associates and joint ventures."
"Profit before exceptional items and tax at Rs 262 crore is higher by 6 percent as compared to the corresponding quarter of the previous year, mainly on account of growth in revenue and good control over expenditure, however, margins were impacted by tea cost inflation in India," the company added.
Consolidated revenue in Q4FY21 came in at Rs 3,037.22 crore, thus registering a 26.3 percent growth over Rs 2,405.03 crore, reported in the corresponding quarter of the previous fiscal.
The company stated, "The growth was mainly driven by volume and value growth in the India branded business and improved performance of the non-branded business."
The company further said during the quarter and fiscal year ended March 2021, the group’s performance was not adversely impacted by the COVID pandemic but recorded good topline growth in many markets, except for some businesses, in particular, those in out-of-home consumption sectors.