Tata Consumer Products reported a 21 per cent year-on-year (YoY) rise in its consolidated net profit at Rs. 289.6 crore for the fourth quarter of the financial year (Q4FY23) ended on 31 March 2023, compared to Rs 239 crore in in the same quarter of the previous year, according to the company’s regulatory filing.
Consolidated revenue from operations during the quarter grew by 14 per cent YoY at Rs 3,619 crore, as compared to Rs 3,175 crore in the previous year.
The company’s board has proposed a final dividend of Rs. 8.45 per equity share of Rs 1 each (845 per cent) for the financial year 2022-23.
The increase in revenue was primarily due to a 15 per cent growth in the India business, a 6 per cent growth in the international business, and a 9 per cent growth in the non-branded business.
The India Packaged Beverages business experienced a 1 per cent revenue growth and 3 per cent volume growth, while the India Foods business had a 26 per cent revenue growth and 8 per cent volume growth.
Coffee continued its robust performance with a revenue rise of 31 per cent YoY.
Tata Starbucks had a 48 per cent revenue growth for the quarter and opened 71 new stores, bringing the total number of stores to 333 across 41 cities.
The modern trade channel contributed to 14 per cent of India business sales, growing by 21 per cent in FY23, and the e-commerce channel contributed to 9 per cent of India business sales, growing by 32 per cent. During the year, almost 10 per cent of e-commerce revenue came from new product development.
Tata Consumers reported that Tata Sampann had maintained its growth trajectory in Q4, achieving double-digit revenue growth for both the quarter and the year. The growth was driven by strong performance across various categories.
Additionally, the company stated that NourishCo had an exceptional FY23, with net revenue reaching Rs 621 crore, an 80 per cent increase driven by strong performance across products and geographies.