TATACONSUM
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India's Tata Consumer misses profit estimates as tea, coffee inflation weigh
Adds details from earnings statement
July 23 (Reuters) - India's Tata Consumer Products TACN.NS missed first-quarter profit estimates on Wednesday, hurt by elevated tea and coffee prices.
Net profit came in at 3.34 billion rupees ($38.7 million) for the quarter ended June, compared with analysts' average estimate of 3.56 billion rupees, according to data compiled by LSEG.
In the year-ago quarter, the company had incurred a one-time restructuring-related cost of 171 million rupees. Excluding that, profit was unchanged on-year.
"Operating performance of branded business was impacted by tea and coffee cost inflation in India and international," said the company, which houses brands such as Tetley Tea and Tata Coffee.
Tata's tea portfolio, which makes up a significant portion of revenue, has been hit by higher prices due to adverse weather conditions and supply chain disruptions.
($1 = 86.3850 Indian rupees)
(Reporting by Ananta Agarwal and Hritam Mukherjee in Bengaluru; Editing by Maju Samuel)
(([email protected];))
Adds details from earnings statement
July 23 (Reuters) - India's Tata Consumer Products TACN.NS missed first-quarter profit estimates on Wednesday, hurt by elevated tea and coffee prices.
Net profit came in at 3.34 billion rupees ($38.7 million) for the quarter ended June, compared with analysts' average estimate of 3.56 billion rupees, according to data compiled by LSEG.
In the year-ago quarter, the company had incurred a one-time restructuring-related cost of 171 million rupees. Excluding that, profit was unchanged on-year.
"Operating performance of branded business was impacted by tea and coffee cost inflation in India and international," said the company, which houses brands such as Tetley Tea and Tata Coffee.
Tata's tea portfolio, which makes up a significant portion of revenue, has been hit by higher prices due to adverse weather conditions and supply chain disruptions.
($1 = 86.3850 Indian rupees)
(Reporting by Ananta Agarwal and Hritam Mukherjee in Bengaluru; Editing by Maju Samuel)
(([email protected];))
Tata Consumer Products Q4 Consol Net Profit At 3.45 Bln Rupees
April 23 (Reuters) - Tata Consumer Products Ltd TACN.NS:
TATA CONSUMER PRODUCTS Q4 CONSOL NET PROFIT 3.45 BLN RUPEES; IBES PROFIT EST. 3.18 BLN RUPEES
TATA CONSUMER PRODUCTS Q4 CONSOL REVENUE FROM OPERATIONS 46.08 BILLION RUPEES; IBES EST. 45.74 BILLION RUPEES
DIVIDEND 8.25 RUPEES PER SHARE
Source text: [ID:]
Further company coverage: TACN.NS
(([email protected];))
April 23 (Reuters) - Tata Consumer Products Ltd TACN.NS:
TATA CONSUMER PRODUCTS Q4 CONSOL NET PROFIT 3.45 BLN RUPEES; IBES PROFIT EST. 3.18 BLN RUPEES
TATA CONSUMER PRODUCTS Q4 CONSOL REVENUE FROM OPERATIONS 46.08 BILLION RUPEES; IBES EST. 45.74 BILLION RUPEES
DIVIDEND 8.25 RUPEES PER SHARE
Source text: [ID:]
Further company coverage: TACN.NS
(([email protected];))
Tata Consumer Products Gets Tax Assessment Order With Demand Of 2.62 Billion Rupees
April 1 (Reuters) - Tata Consumer Products Ltd TACN.NS:
TATA CONSUMER PRODUCTS LTD - RECEIVES TAX ASSESSMENT ORDER WITH DEMAND OF 2.62 BILLION RUPEES
Source text: ID:nBSE2WNWWp
Further company coverage: TACN.NS
(([email protected];))
April 1 (Reuters) - Tata Consumer Products Ltd TACN.NS:
TATA CONSUMER PRODUCTS LTD - RECEIVES TAX ASSESSMENT ORDER WITH DEMAND OF 2.62 BILLION RUPEES
Source text: ID:nBSE2WNWWp
Further company coverage: TACN.NS
(([email protected];))
Nestle's India unit misses profit view on sluggish urban demand
Adds share prices in paragraph 7 and analyst comment in paragraph 8
Jan 31 (Reuters) - Nestle India NEST.NS reported a quarterly profit below market expectations on Friday, as a slowdown in consumer spending in major cities and higher product prices dampened its sales.
Consumer goods makers are struggling to sustain profits due to inflation in palm oil, coffee and cocoa, while slow wage growth and higher prices of essentials like vegetables and pulses have forced city dwellers to tighten their belts.
"It was a quarter that was marked with food inflation, moderation in urban consumption, with gradual recovery in rural consumption," Nestle India Chairman and Managing Director Suresh Narayanan said in a statement.
The Indian arm of Swiss food giant Nestle NESN.S reported a profit of 6.96 billion rupees ($80.34 million) for the third quarter, up 6.2% from a year earlier, but below market estimates of 7.31 billion rupees, according to data from LSEG.
Revenue for Nestle India, home to brands such as Nescafe instant coffee and KitKat chocolate, rose 3.9% to 47.8 billion rupees for the three-month period ended Dec. 31, primarily driven by price hikes.
Revenue jumped 8.1% in the comparable quarter last year.
Shares in Nestle India, which also declared a dividend of 14.25 rupees apiece, climbed as much as 7.7% following the results. At its current levels, up 5.5%, the stock is on course for its best day in more than four years.
The "worst is behind" for consumer goods, with the fourth quarter set to improve sequentially on past price hikes, Nuvama analyst Abneesh Roy said, citing stock gains in Tata Consumer TACN.NS and Colgate-Palmolive India after "weak results".
($1 = 86.6370 Indian rupees)
(Reporting by Praveen Paramasivam in Chennai and Kashish Tandon in Bengaluru; Editing by Sherry Jacob-Phillips)
(([email protected]; +91 867-525-3569;))
Adds share prices in paragraph 7 and analyst comment in paragraph 8
Jan 31 (Reuters) - Nestle India NEST.NS reported a quarterly profit below market expectations on Friday, as a slowdown in consumer spending in major cities and higher product prices dampened its sales.
Consumer goods makers are struggling to sustain profits due to inflation in palm oil, coffee and cocoa, while slow wage growth and higher prices of essentials like vegetables and pulses have forced city dwellers to tighten their belts.
"It was a quarter that was marked with food inflation, moderation in urban consumption, with gradual recovery in rural consumption," Nestle India Chairman and Managing Director Suresh Narayanan said in a statement.
The Indian arm of Swiss food giant Nestle NESN.S reported a profit of 6.96 billion rupees ($80.34 million) for the third quarter, up 6.2% from a year earlier, but below market estimates of 7.31 billion rupees, according to data from LSEG.
Revenue for Nestle India, home to brands such as Nescafe instant coffee and KitKat chocolate, rose 3.9% to 47.8 billion rupees for the three-month period ended Dec. 31, primarily driven by price hikes.
Revenue jumped 8.1% in the comparable quarter last year.
Shares in Nestle India, which also declared a dividend of 14.25 rupees apiece, climbed as much as 7.7% following the results. At its current levels, up 5.5%, the stock is on course for its best day in more than four years.
The "worst is behind" for consumer goods, with the fourth quarter set to improve sequentially on past price hikes, Nuvama analyst Abneesh Roy said, citing stock gains in Tata Consumer TACN.NS and Colgate-Palmolive India after "weak results".
($1 = 86.6370 Indian rupees)
(Reporting by Praveen Paramasivam in Chennai and Kashish Tandon in Bengaluru; Editing by Sherry Jacob-Phillips)
(([email protected]; +91 867-525-3569;))
India's Tata Consumer Products misses Q3 profit estimates on higher tea prices
Jan 30 (Reuters) - India's Tata Consumer Products TACN.NS reported a smaller-than-expected third-quarter profit on Thursday, hurt by elevated domestic tea prices that squeezed the company's margins.
The Tata group-owned company posted a consolidated net profit of 2.79 billion rupees ($32.2 million) for the October-December quarter, which was flat year-on-year. Analysts, on average, had expected a profit of 3.58 billion rupees, per data compiled by LSEG.
Tata Consumer, known for its 'Tetley' tea and its namesake brand of salt, was hurt by rising costs of domestic tea, the company said, as the commodity contributes nearly 60% to overall revenue.
Tea prices in India have been rising due to adverse weather conditions, higher production costs and supply chain disruptions, according to analysts.
Prices of tea in the northern parts of India increased 21% in the third quarter, while those in the southern parts jumped 38%, the company said, adding that this lifted raw materials costs by 34%.
Its Indian business, which sells packaged products including pulses and spices and accounts for 56% of profit, reported a 43% fall in profit during the quarter due to the surge in tea prices.
As a result, Tata's margins on consolidated earnings before interest, taxes, depreciation and amortisation (EBITDA) contracted by 210 basis points year-on-year in the third quarter.
However, the company's international businesses, which contributes nearly 30% to revenue, aided a 17% growth in overall revenue from operations to 44.43 billion rupees, beating analysts' estimate of 43.98 billion rupees.
Revenue from the international business rose 8% and profit from the segment grew 53% year-on-year.
($1 = 86.6020 Indian rupees)
(Reporting by Ashna Teresa Britto; Editing by Sonia Cheema)
(([email protected];))
Jan 30 (Reuters) - India's Tata Consumer Products TACN.NS reported a smaller-than-expected third-quarter profit on Thursday, hurt by elevated domestic tea prices that squeezed the company's margins.
The Tata group-owned company posted a consolidated net profit of 2.79 billion rupees ($32.2 million) for the October-December quarter, which was flat year-on-year. Analysts, on average, had expected a profit of 3.58 billion rupees, per data compiled by LSEG.
Tata Consumer, known for its 'Tetley' tea and its namesake brand of salt, was hurt by rising costs of domestic tea, the company said, as the commodity contributes nearly 60% to overall revenue.
Tea prices in India have been rising due to adverse weather conditions, higher production costs and supply chain disruptions, according to analysts.
Prices of tea in the northern parts of India increased 21% in the third quarter, while those in the southern parts jumped 38%, the company said, adding that this lifted raw materials costs by 34%.
Its Indian business, which sells packaged products including pulses and spices and accounts for 56% of profit, reported a 43% fall in profit during the quarter due to the surge in tea prices.
As a result, Tata's margins on consolidated earnings before interest, taxes, depreciation and amortisation (EBITDA) contracted by 210 basis points year-on-year in the third quarter.
However, the company's international businesses, which contributes nearly 30% to revenue, aided a 17% growth in overall revenue from operations to 44.43 billion rupees, beating analysts' estimate of 43.98 billion rupees.
Revenue from the international business rose 8% and profit from the segment grew 53% year-on-year.
($1 = 86.6020 Indian rupees)
(Reporting by Ashna Teresa Britto; Editing by Sonia Cheema)
(([email protected];))
BREAKINGVIEWS-Cracks in India’s consumption story run deep
The author is a Reuters Breakingviews columnist. The opinions expressed are her own. Refiles to add hyperlinks.
By Shritama Bose
MUMBAI, Jan 16 (Reuters Breakingviews) - If India wants to prop up its stalling economic growth, it will have to sacrifice some of the financial stability underpinning the country’s moment on the global stage.
Under Prime Minister Narendra Modi, consumption by India’s 294 million households has nearly trebled to $2.07 trillion over the past decade. It is the top engine of the $4 trillion economy and drives around 60% of GDP. Yet consumer spending is weak and has decoupled dramatically from the path of national output since the year ended March 2023, according to economists at state-owned Punjab National Bank.
Beyond the luxury market where well-heeled Indians are spending big on the high life, cracks are appearing; car sales crawled during the usually busy annual Diwali holiday in October-November. Indians are eating out less often. Starbucks SBUX.O and its partner Tata Consumer Products TACN.NS, meanwhile, are pushing the brakes on expansion; their target to hit 1,000 coffee stores by 2028 is unchanged but they are slowing the pace of new openings. Starbucks has more than 6,500 stores in China.
As it stands, India expects its GDP growth in the current year to March will hit a four-year low of 6.4%, the lower end of the pace policymakers envisioned the country sustaining for the next decade. In short, consumption is fading before it has had a real chance to flourish.
A weak jobs environment lies at the heart of the problem. The abundance of labour in the world’s most populous country is making wages crawl. It puts a perverse spin on the vaunted demographic dividend: casual and regular workers in 2023 earned an average real monthly wage roughly 1% lower than in the previous year, an International Labour Organization report based on official data shows. That’s prompted fears of a middle class shrinking instead of growing.
As a result of stagnant real incomes, middle-class Indians don't have much left over for the kind of discretionary purchases that would power a U.S.-style consumer economy.
"There used to be a middle segment, which used to be the segment that most of us fast moving consumer goods firms used to operate in, which is the middle class of the country, that seems to be shrinking," Suresh Narayanan, chair of Nestle’s India NEST.NS unit, warned in October. His peers have sounded an alarm about weak consumption in rural India for years.
The problem is worryingly broad-based. IT companies, typically the biggest private sector employers, are making fewer hires and paying less. Demand for their services like those provided by Tata Consultancy Services TCS.NS is growing slower. Automation and advances in technology including artificial intelligence are killing repetitive jobs in outsourcing and financial services, so firms are not backfilling roles when they fall vacant.
Farmers’ incomes benefited in 2024 from a strong monsoon but it’s a brief respite after two years of stagnating incomes for the 46% of the workforce depending on agriculture. Climate change is upsetting weather and food-inflation patterns: in June, rating agency Moody's tipped water stress as a sovereign credit risk to India.
The long-term answer is to create more jobs outside of agriculture. Modi’s administration is pushing manufacturing investment in the hope that factories will absorb workers and pay them better. However, the foreign direct investment required to speed progress is declining.
In the short term, New Delhi needs to act to avoid a return to a trend of weak output and consumption growth following a two-year phase of post-pandemic revenge spending. The reduced private spending is hitting growth directly and shrinking tax collections. Poor demand also means lower private investment, and that burdens the government with an even bigger role in turbocharging GDP.
Authorities could cut taxes to stimulate consumption. They are considering lower levies on personal income in the budget in February, Reuters reported in December, citing two official sources. Yet New Delhi will be hard-pressed to forego revenue without imperiling its goal to consolidate the fiscal deficit to 4.5% of GDP by March 2026.
A larger deficit could further beat down consumption if it prompts a spike in the government’s borrowing costs, triggers a lower sovereign credit rating and weakens demand for the rupee in international currency markets. That would make India’s oil import bill heftier and prompt a surge in inflation: Oil prices are already spiking following U.S. curbs on oil tankers supplying Russian crude.
Those problems could quickly compound if, as expected, Indian policymakers try to keep exports competitive by allowing the rupee to track the weakening yuan. That currency is getting battered by fears of a second trade war between China and the United States under Donald Trump’s imminent presidency.
Alternatively, the central bank could boost consumption by making it easier for individuals to tap credit. New governor, Sanjay Malhotra, will be wary of risks stemming from eye-popping growth in consumer loan books as the banking system only recently recovered from a corporate bad debt crisis. The Reserve Bank of India raised risk weights for unsecured lending in November 2023. These measures added to a chill in consumer spending – personal loans are growing at nearly half their pace a year ago. Nonetheless, the RBI expects banks’ asset quality to weaken.
The rosy narrative of strong growth and macroeconomic stability is fragile. If policymakers do intervene, they would be better off doing it sooner rather than later.
Follow @ShritamaBose on X
Graphic: Consumer credit growth has fallen off a cliff https://reut.rs/4jdxOGL
Graphic: Incomes are growing slower than prices https://reut.rs/4jdO8az
Graphic: Starbucks' India store count is a fraction of its China presence https://reut.rs/4jcWJtX
Graphic: Consumer spending is decoupling from output growth https://reut.rs/42e5j5O
(Editing by Una Galani and Aditya Srivastav)
((For previous columns by the author, Reuters customers can click on BOSE/
[email protected]))
The author is a Reuters Breakingviews columnist. The opinions expressed are her own. Refiles to add hyperlinks.
By Shritama Bose
MUMBAI, Jan 16 (Reuters Breakingviews) - If India wants to prop up its stalling economic growth, it will have to sacrifice some of the financial stability underpinning the country’s moment on the global stage.
Under Prime Minister Narendra Modi, consumption by India’s 294 million households has nearly trebled to $2.07 trillion over the past decade. It is the top engine of the $4 trillion economy and drives around 60% of GDP. Yet consumer spending is weak and has decoupled dramatically from the path of national output since the year ended March 2023, according to economists at state-owned Punjab National Bank.
Beyond the luxury market where well-heeled Indians are spending big on the high life, cracks are appearing; car sales crawled during the usually busy annual Diwali holiday in October-November. Indians are eating out less often. Starbucks SBUX.O and its partner Tata Consumer Products TACN.NS, meanwhile, are pushing the brakes on expansion; their target to hit 1,000 coffee stores by 2028 is unchanged but they are slowing the pace of new openings. Starbucks has more than 6,500 stores in China.
As it stands, India expects its GDP growth in the current year to March will hit a four-year low of 6.4%, the lower end of the pace policymakers envisioned the country sustaining for the next decade. In short, consumption is fading before it has had a real chance to flourish.
A weak jobs environment lies at the heart of the problem. The abundance of labour in the world’s most populous country is making wages crawl. It puts a perverse spin on the vaunted demographic dividend: casual and regular workers in 2023 earned an average real monthly wage roughly 1% lower than in the previous year, an International Labour Organization report based on official data shows. That’s prompted fears of a middle class shrinking instead of growing.
As a result of stagnant real incomes, middle-class Indians don't have much left over for the kind of discretionary purchases that would power a U.S.-style consumer economy.
"There used to be a middle segment, which used to be the segment that most of us fast moving consumer goods firms used to operate in, which is the middle class of the country, that seems to be shrinking," Suresh Narayanan, chair of Nestle’s India NEST.NS unit, warned in October. His peers have sounded an alarm about weak consumption in rural India for years.
The problem is worryingly broad-based. IT companies, typically the biggest private sector employers, are making fewer hires and paying less. Demand for their services like those provided by Tata Consultancy Services TCS.NS is growing slower. Automation and advances in technology including artificial intelligence are killing repetitive jobs in outsourcing and financial services, so firms are not backfilling roles when they fall vacant.
Farmers’ incomes benefited in 2024 from a strong monsoon but it’s a brief respite after two years of stagnating incomes for the 46% of the workforce depending on agriculture. Climate change is upsetting weather and food-inflation patterns: in June, rating agency Moody's tipped water stress as a sovereign credit risk to India.
The long-term answer is to create more jobs outside of agriculture. Modi’s administration is pushing manufacturing investment in the hope that factories will absorb workers and pay them better. However, the foreign direct investment required to speed progress is declining.
In the short term, New Delhi needs to act to avoid a return to a trend of weak output and consumption growth following a two-year phase of post-pandemic revenge spending. The reduced private spending is hitting growth directly and shrinking tax collections. Poor demand also means lower private investment, and that burdens the government with an even bigger role in turbocharging GDP.
Authorities could cut taxes to stimulate consumption. They are considering lower levies on personal income in the budget in February, Reuters reported in December, citing two official sources. Yet New Delhi will be hard-pressed to forego revenue without imperiling its goal to consolidate the fiscal deficit to 4.5% of GDP by March 2026.
A larger deficit could further beat down consumption if it prompts a spike in the government’s borrowing costs, triggers a lower sovereign credit rating and weakens demand for the rupee in international currency markets. That would make India’s oil import bill heftier and prompt a surge in inflation: Oil prices are already spiking following U.S. curbs on oil tankers supplying Russian crude.
Those problems could quickly compound if, as expected, Indian policymakers try to keep exports competitive by allowing the rupee to track the weakening yuan. That currency is getting battered by fears of a second trade war between China and the United States under Donald Trump’s imminent presidency.
Alternatively, the central bank could boost consumption by making it easier for individuals to tap credit. New governor, Sanjay Malhotra, will be wary of risks stemming from eye-popping growth in consumer loan books as the banking system only recently recovered from a corporate bad debt crisis. The Reserve Bank of India raised risk weights for unsecured lending in November 2023. These measures added to a chill in consumer spending – personal loans are growing at nearly half their pace a year ago. Nonetheless, the RBI expects banks’ asset quality to weaken.
The rosy narrative of strong growth and macroeconomic stability is fragile. If policymakers do intervene, they would be better off doing it sooner rather than later.
Follow @ShritamaBose on X
Graphic: Consumer credit growth has fallen off a cliff https://reut.rs/4jdxOGL
Graphic: Incomes are growing slower than prices https://reut.rs/4jdO8az
Graphic: Starbucks' India store count is a fraction of its China presence https://reut.rs/4jcWJtX
Graphic: Consumer spending is decoupling from output growth https://reut.rs/42e5j5O
(Editing by Una Galani and Aditya Srivastav)
((For previous columns by the author, Reuters customers can click on BOSE/
[email protected]))
Arunjyoti Bio Ventures Says Tata Consumer Products Arranged Machinery
Dec 24 (Reuters) - Arunjyoti Bio Ventures Ltd ARUY.BO:
TATA CONSUMER PRODUCTS ARRANGED MACHINERY WORTH 89 MILLION RUPEES
Source text: ID:nBSE8j8Vlv
Further company coverage: ARUY.BO
(([email protected];;))
Dec 24 (Reuters) - Arunjyoti Bio Ventures Ltd ARUY.BO:
TATA CONSUMER PRODUCTS ARRANGED MACHINERY WORTH 89 MILLION RUPEES
Source text: ID:nBSE8j8Vlv
Further company coverage: ARUY.BO
(([email protected];;))
Tata Consumer Says Report On Starbucks Exiting India Is Baseless
Dec 19 (Reuters) - TATA CONSUMER:
TATA CONSUMER: REPORT ON STARBUCKS EXITING INDIA IS BASELESS
Source text: ID:nBSE2cxmNY
Further company coverage: SBUX.O
(([email protected];))
Dec 19 (Reuters) - TATA CONSUMER:
TATA CONSUMER: REPORT ON STARBUCKS EXITING INDIA IS BASELESS
Source text: ID:nBSE2cxmNY
Further company coverage: SBUX.O
(([email protected];))
India's Tata Consumer CEO Says "Will Calibrate" Starbucks Store-Opening Plans For Short Term
Dec 16 (Reuters) -
INDIA'S TATA CONSUMER CEO ON STARBUCKS STORE-OPENING PLANS: CO "WILL CALIBRATE" FOR SHORT TERM
INDIA'S TATA CONSUMER CEO ON STARBUCKS STORE-OPENING PLANS: REMAIN FOCUSED ON PLANS TO OPERATE 1,000 STORES BY 2028
INDIA'S TATA CONSUMER CEO: TARGETING DOUBLE-DIGIT TOP-LINE GROWTH IN H2, BOTTOM-LINE WILL BE STRESSED
Further company coverage: SBUX.O
(([email protected];))
Dec 16 (Reuters) -
INDIA'S TATA CONSUMER CEO ON STARBUCKS STORE-OPENING PLANS: CO "WILL CALIBRATE" FOR SHORT TERM
INDIA'S TATA CONSUMER CEO ON STARBUCKS STORE-OPENING PLANS: REMAIN FOCUSED ON PLANS TO OPERATE 1,000 STORES BY 2028
INDIA'S TATA CONSUMER CEO: TARGETING DOUBLE-DIGIT TOP-LINE GROWTH IN H2, BOTTOM-LINE WILL BE STRESSED
Further company coverage: SBUX.O
(([email protected];))
Tata Consumer Products Q2 Consol Net Profit 3.64 Bln Rupees
Oct 18 (Reuters) - Tata Consumer Products Ltd TACN.NS:
Q2 CONSOL NET PROFIT 3.64 BILLION RUPEES; IBES EST. 3.28 BILLION RUPEES
Q2 CONSOL REV FROM OPS 42.14 BLN RUPEES; IBES EST. 43.41 BLN RUPEES
Source text for Eikon: [ID:]
Further company coverage: TACN.NS
(([email protected];;))
Oct 18 (Reuters) - Tata Consumer Products Ltd TACN.NS:
Q2 CONSOL NET PROFIT 3.64 BILLION RUPEES; IBES EST. 3.28 BILLION RUPEES
Q2 CONSOL REV FROM OPS 42.14 BLN RUPEES; IBES EST. 43.41 BLN RUPEES
Source text for Eikon: [ID:]
Further company coverage: TACN.NS
(([email protected];;))
Noel Tata Appointed Chairman Of Tata Trusts - CNBC TV18
Oct 11 (Reuters) -
NOEL TATA APPOINTED CHAIRMAN OF TATA TRUSTS - CNBC TV18
Source text for Eikon: [ID:]
(([email protected];))
Oct 11 (Reuters) -
NOEL TATA APPOINTED CHAIRMAN OF TATA TRUSTS - CNBC TV18
Source text for Eikon: [ID:]
(([email protected];))
Hundreds gather to pay last respects to India's iconic business tycoon Ratan Tata
By Tanvi Mehta
NEW DELHI, Oct 10 (Reuters) - Hundreds of people, including corporate leaders, politicians and celebrities, gathered in Mumbai on Thursday to pay their last respects to one of India's most respected business tycoons, Ratan Tata, who died aged 86.
Known for his exemplary business acumen and philanthropic nature, as chairman he led various companies under the Tata conglomerate for more than 20 years, which had revenue of $165 billion in 2023-24.
Although in recent years Tata was not as active in the day-to-day running of the group, he was consulted on big decisions by the Tata Sons leadership, a senior company executive told Reuters.
Tata had been in a Mumbai hospital since Monday, but the cause of his death was not immediately made public.
After his death, tributes poured in from around the world, underlining his popularity that transcended boundaries and generations.
"India and the world have lost a giant with a giant heart," U.S. ambassador to India Eric Garcetti said on X.
"He ... was instrumental in mentoring and developing the modern business leadership in India. He deeply cared about making India better," Google GOOGL.O Chief Executive Sundar Pichai said.
Draped in the Indian national flag, Ratan Tata's body was kept at a cultural centre in Mumbai, and his funeral will be conducted later in the day with full state honours.
India's central bank governor Shaktikanta Das, Tata Sons Chairman N. Chandrasekaran and Aditya Birla Group Chairman Kumar Mangalam Birla were among early visitors to pay their last respects to the Padma Vibhushan awardee - India's second-highest civilian honour.
A licensed pilot who would occasionally fly the company plane, Tata never married and was known for his quiet demeanour, relatively modest lifestyle and philanthropic work.
"We will remember his legacy of transformative giving to Cornell," his alma mater Cornell University said on X, calling Tata their most generous international donor.
(Reporting by Tanvi Mehta; Editing by Michael Perry)
By Tanvi Mehta
NEW DELHI, Oct 10 (Reuters) - Hundreds of people, including corporate leaders, politicians and celebrities, gathered in Mumbai on Thursday to pay their last respects to one of India's most respected business tycoons, Ratan Tata, who died aged 86.
Known for his exemplary business acumen and philanthropic nature, as chairman he led various companies under the Tata conglomerate for more than 20 years, which had revenue of $165 billion in 2023-24.
Although in recent years Tata was not as active in the day-to-day running of the group, he was consulted on big decisions by the Tata Sons leadership, a senior company executive told Reuters.
Tata had been in a Mumbai hospital since Monday, but the cause of his death was not immediately made public.
After his death, tributes poured in from around the world, underlining his popularity that transcended boundaries and generations.
"India and the world have lost a giant with a giant heart," U.S. ambassador to India Eric Garcetti said on X.
"He ... was instrumental in mentoring and developing the modern business leadership in India. He deeply cared about making India better," Google GOOGL.O Chief Executive Sundar Pichai said.
Draped in the Indian national flag, Ratan Tata's body was kept at a cultural centre in Mumbai, and his funeral will be conducted later in the day with full state honours.
India's central bank governor Shaktikanta Das, Tata Sons Chairman N. Chandrasekaran and Aditya Birla Group Chairman Kumar Mangalam Birla were among early visitors to pay their last respects to the Padma Vibhushan awardee - India's second-highest civilian honour.
A licensed pilot who would occasionally fly the company plane, Tata never married and was known for his quiet demeanour, relatively modest lifestyle and philanthropic work.
"We will remember his legacy of transformative giving to Cornell," his alma mater Cornell University said on X, calling Tata their most generous international donor.
(Reporting by Tanvi Mehta; Editing by Michael Perry)
Chairman Emeritus Of India's Tata Group Ratan Tata In Critical Condition In Intensive Care In Mumbai Hospital- Sources
Oct 9 (Reuters) -
CHAIRMAN EMERITUS OF INDIA'S TATA GROUP RATAN TATA IN CRITICAL CONDITION IN INTENSIVE CARE IN MUMBAI HOSPITAL- SOURCES
Source text for Eikon: [ID:]
(([email protected];))
Oct 9 (Reuters) -
CHAIRMAN EMERITUS OF INDIA'S TATA GROUP RATAN TATA IN CRITICAL CONDITION IN INTENSIVE CARE IN MUMBAI HOSPITAL- SOURCES
Source text for Eikon: [ID:]
(([email protected];))
Tetley Tea maker Tata Consumer misses Q1 profit view as expenses spike
BENGALURU, July 30 (Reuters) - Tata Consumer Products TACN.NS reported a first-quarter profit on Tuesday that missed estimates, as surging costs ate into its revenue growth.
The company, which sells salt under the Tata brand and the Tetley brand of tea, said its consolidated net profit fell nearly 9% to 2.90 billion rupees (about $35 million) in the three months ended June 30, marking its third straight quarter of profit fall.
Analysts had estimated 3.48 billion rupees, as per LSEG data.
The Tata Group company was hurt by a nearly 81% surge in finance and amortisation charges, taking its total expenses up by 19% to 39.26 billion rupees.
Additionally, tea prices rose 16% during the quarter in North India, while coffee prices rose around 57%, pushing up the cost of raw materials consumed by 15%.
However, revenue from operations grew 16% to 43.52 billion rupees, marking its fastest revenue growth in thirteen quarters and beating analysts' estimate of 42.97 billion rupees, owing to a 9% rise in its salt business.
Additionally, the Tata Group company's 'growth business' - which houses the Tata Sampann pulses and acquisitions made in the previous quarter - recorded a 20% organic rise in revenue.
The company acquired Capital Foods, the owner of consumer products Ching's Secret and Smith & Jones, and Organic India, which makes tea and herbal supplements, in the January-March quarter.
Tata Consumer's smaller rivals Marico MRCO.NS and Dabur DABU.NS also reported a pick-up in their revenue in the April-June quarter, suggesting demand has been improving gradually, while rival Nestle NEST.NS missed first-quarter earnings estimates.
($1 = 83.6990 Indian rupees)
(Reporting by Manvi Pant and Ashna Teresa Britto in Bengaluru; Editing by Janane Venkatraman )
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BENGALURU, July 30 (Reuters) - Tata Consumer Products TACN.NS reported a first-quarter profit on Tuesday that missed estimates, as surging costs ate into its revenue growth.
The company, which sells salt under the Tata brand and the Tetley brand of tea, said its consolidated net profit fell nearly 9% to 2.90 billion rupees (about $35 million) in the three months ended June 30, marking its third straight quarter of profit fall.
Analysts had estimated 3.48 billion rupees, as per LSEG data.
The Tata Group company was hurt by a nearly 81% surge in finance and amortisation charges, taking its total expenses up by 19% to 39.26 billion rupees.
Additionally, tea prices rose 16% during the quarter in North India, while coffee prices rose around 57%, pushing up the cost of raw materials consumed by 15%.
However, revenue from operations grew 16% to 43.52 billion rupees, marking its fastest revenue growth in thirteen quarters and beating analysts' estimate of 42.97 billion rupees, owing to a 9% rise in its salt business.
Additionally, the Tata Group company's 'growth business' - which houses the Tata Sampann pulses and acquisitions made in the previous quarter - recorded a 20% organic rise in revenue.
The company acquired Capital Foods, the owner of consumer products Ching's Secret and Smith & Jones, and Organic India, which makes tea and herbal supplements, in the January-March quarter.
Tata Consumer's smaller rivals Marico MRCO.NS and Dabur DABU.NS also reported a pick-up in their revenue in the April-June quarter, suggesting demand has been improving gradually, while rival Nestle NEST.NS missed first-quarter earnings estimates.
($1 = 83.6990 Indian rupees)
(Reporting by Manvi Pant and Ashna Teresa Britto in Bengaluru; Editing by Janane Venkatraman )
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Tata Consumer Approved Rights Issue Size Of 36.6 Mln Shares Worth 29.98 Bln Rupees
July 23 (Reuters) - Tata Consumer Products Ltd TACN.NS:
TATA CONSUMER - APPROVED RIGHTS ISSUE SIZE OF 36.6 MILLION SHARES WORTH 29.98 BILLION RUPEES
TATA CONSUMER - APPROVED RIGHTS ISSUE PRICE AT 818 RUPEES PER SHARE
Source text for Eikon: ID:nBSE384mB0
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July 23 (Reuters) - Tata Consumer Products Ltd TACN.NS:
TATA CONSUMER - APPROVED RIGHTS ISSUE SIZE OF 36.6 MILLION SHARES WORTH 29.98 BILLION RUPEES
TATA CONSUMER - APPROVED RIGHTS ISSUE PRICE AT 818 RUPEES PER SHARE
Source text for Eikon: ID:nBSE384mB0
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Tata Consumer Products Gets Tax Order For Penalty At About 2 Million Rupees
May 3 (Reuters) - Tata Consumer Products Ltd TACN.NS:
GETS TAX ORDER FOR PENALTY AT ABOUT 2 MILLION RUPEES
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May 3 (Reuters) - Tata Consumer Products Ltd TACN.NS:
GETS TAX ORDER FOR PENALTY AT ABOUT 2 MILLION RUPEES
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India widens spices crackdown with nationwide checks on all manufacturers
By Rishika Sadam
HYDERABAD, May 2 (Reuters) - India's food safety regulator said on Thursday it had ordered nationwide testing and inspections at all companies making spice mixes, widening a crackdown on the sector as global regulators investigate contamination issues with two popular local brands.
Hong Kong last month suspended sales of three spice blends made by India's MDH and an Everest spice mix for fish curry. Singapore ordered a recall of the same Everest mix as well, flagging high levels of ethylene oxide, which is unfit for human consumption and a cancer risk with long exposure.
MDH and Everest products are hugely popular in India and also sold in Europe, Asia and North America, and the companies have said they are safe. Still, U.S. and Australian food authorities said they are gathering more information on the matter, and India had already ordered testing of the two brands' products.
The Indian regulator has now ordered officials to conduct "extensive inspections, sampling and testing at all the manufacturing units", for powdered spices, with a focus on those making curry powders and mixed spice blends for local and foreign sales.
"Each of the product sampled will be analysed for the compliance with quality and safety parameters," the Food Safety and Standards Authority of India said in a statement.
The agency added checks would also be made for any presence of ethylene oxide, whose use is banned in India, and "appropriate actions will be initiated as fit" after testing was completed.
India is the world's biggest exporter, producer and consumer of spices, and its domestic market for the products was valued at $10.44 billion in 2022, according to Zion Market Research.
Beyond MDH and Everest, other major manufacturers include Madhusudan Masala MADD.NS, NHC Foods NHCF.BO and consumer giants Tata Consumer Products TACN.NS and ITC ITC.NS.
(Reporting by Rishika Sadam; Editing by Aditya Kalra and Jamie Freed)
(([email protected];))
By Rishika Sadam
HYDERABAD, May 2 (Reuters) - India's food safety regulator said on Thursday it had ordered nationwide testing and inspections at all companies making spice mixes, widening a crackdown on the sector as global regulators investigate contamination issues with two popular local brands.
Hong Kong last month suspended sales of three spice blends made by India's MDH and an Everest spice mix for fish curry. Singapore ordered a recall of the same Everest mix as well, flagging high levels of ethylene oxide, which is unfit for human consumption and a cancer risk with long exposure.
MDH and Everest products are hugely popular in India and also sold in Europe, Asia and North America, and the companies have said they are safe. Still, U.S. and Australian food authorities said they are gathering more information on the matter, and India had already ordered testing of the two brands' products.
The Indian regulator has now ordered officials to conduct "extensive inspections, sampling and testing at all the manufacturing units", for powdered spices, with a focus on those making curry powders and mixed spice blends for local and foreign sales.
"Each of the product sampled will be analysed for the compliance with quality and safety parameters," the Food Safety and Standards Authority of India said in a statement.
The agency added checks would also be made for any presence of ethylene oxide, whose use is banned in India, and "appropriate actions will be initiated as fit" after testing was completed.
India is the world's biggest exporter, producer and consumer of spices, and its domestic market for the products was valued at $10.44 billion in 2022, according to Zion Market Research.
Beyond MDH and Everest, other major manufacturers include Madhusudan Masala MADD.NS, NHC Foods NHCF.BO and consumer giants Tata Consumer Products TACN.NS and ITC ITC.NS.
(Reporting by Rishika Sadam; Editing by Aditya Kalra and Jamie Freed)
(([email protected];))
India's Tata Consumer slips on missing Q4 revenue estimates
BENGALURU, April 24 (Reuters) - Shares of India's Tata Consumer Products TACN.NS fell as much as 5.7% on Wednesday, after it missed fourth-quarter revenue estimates, as consumers cut back on discretionary spending amid sticky food inflation, while stiff competition also dampened demand.
The company's consolidated revenue from operations rose 8.5% to 39.27 billion rupees ($471.4 million), missing analysts estimate of 39.91 bln rupees, as per LSEG data.
($1 = 83.3075 Indian rupees)
(Reporting by Ashna Teresa Britto in Bengaluru; Editing by Sonia Cheema)
(([email protected];))
BENGALURU, April 24 (Reuters) - Shares of India's Tata Consumer Products TACN.NS fell as much as 5.7% on Wednesday, after it missed fourth-quarter revenue estimates, as consumers cut back on discretionary spending amid sticky food inflation, while stiff competition also dampened demand.
The company's consolidated revenue from operations rose 8.5% to 39.27 billion rupees ($471.4 million), missing analysts estimate of 39.91 bln rupees, as per LSEG data.
($1 = 83.3075 Indian rupees)
(Reporting by Ashna Teresa Britto in Bengaluru; Editing by Sonia Cheema)
(([email protected];))
Tata Consumer Products Q4 Consol Net Profit falls
April 23 (Reuters) - Tata Consumer Products Ltd TACN.NS:
TATA CONSUMER PRODUCTS Q4 CONSOL NET PROFIT 2.17 BLN RUPEES; LSEG IBES PROFIT EST. 3.4 BLN RUPEES
TATA CONSUMER PRODUCTS Q4 CONSOL REVENUE FROM OPERATIONS 39.27 BILLION RUPEES; LSEG IBES EST. 39.91 BILLION RUPEES
TATA CONSUMER PRODUCTS YEAR AGO Q4 CONSOL NET PROFIT 2.69 BILLION RUPEES, REVENUE 36.19 BILLION RUPEES
TATA CONSUMER PRODUCTS LTD - RECOMMENDED A DIVIDEND PAYMENT OF 7.75 RUPEES PER SHARE
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April 23 (Reuters) - Tata Consumer Products Ltd TACN.NS:
TATA CONSUMER PRODUCTS Q4 CONSOL NET PROFIT 2.17 BLN RUPEES; LSEG IBES PROFIT EST. 3.4 BLN RUPEES
TATA CONSUMER PRODUCTS Q4 CONSOL REVENUE FROM OPERATIONS 39.27 BILLION RUPEES; LSEG IBES EST. 39.91 BILLION RUPEES
TATA CONSUMER PRODUCTS YEAR AGO Q4 CONSOL NET PROFIT 2.69 BILLION RUPEES, REVENUE 36.19 BILLION RUPEES
TATA CONSUMER PRODUCTS LTD - RECOMMENDED A DIVIDEND PAYMENT OF 7.75 RUPEES PER SHARE
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Tata Consumer Products Q3 Consol Net Profit At 2.79 Billion Rupees
Feb 7 (Reuters) - Tata Consumer Products Ltd TACN.NS:
Q3 CONSOL NET PROFIT 2.79 BILLION RUPEES; LSEG IBES PROFIT EST. 3.57 BILLION RUPEES
Q3 CONSOL REV FROM OPS 38.04 BLN RUPEES; LSEG IBES EST. 38.16 BLN RUPEES
YEAR AGO Q3 CONSOL NET PROFIT 3.52 BILLION RUPEES, REVENUE 34.75 BILLION RUPEES
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Feb 7 (Reuters) - Tata Consumer Products Ltd TACN.NS:
Q3 CONSOL NET PROFIT 2.79 BILLION RUPEES; LSEG IBES PROFIT EST. 3.57 BILLION RUPEES
Q3 CONSOL REV FROM OPS 38.04 BLN RUPEES; LSEG IBES EST. 38.16 BLN RUPEES
YEAR AGO Q3 CONSOL NET PROFIT 3.52 BILLION RUPEES, REVENUE 34.75 BILLION RUPEES
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Tata Consumer Products Acquires 75% Of The Issued Equity Share Capital Of Capital Foods
Feb 1 (Reuters) - Tata Consumer Products Ltd TACN.NS:
TATA CONSUMER PRODUCTS LTD - ACQUIRED 75% OF THE ISSUED EQUITY SHARE CAPITAL OF CAPITAL FOODS
Source text for Eikon: ID:nBSE1gWlTK
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Feb 1 (Reuters) - Tata Consumer Products Ltd TACN.NS:
TATA CONSUMER PRODUCTS LTD - ACQUIRED 75% OF THE ISSUED EQUITY SHARE CAPITAL OF CAPITAL FOODS
Source text for Eikon: ID:nBSE1gWlTK
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Tata Consumer Products Approves Fund Raising Proposals
Jan 19 (Reuters) - Tata Consumer Products Ltd TACN.NS:
APPROVAL FOR FUND RAISING PROPOSALS
RAISING OF FUNDS THROUGH ISSUANCE AND ALLOTMENT OF COMMERCIAL PAPERS, FOR AN AMOUNT NOT EXCEEDING 35 BILLION RUPEES
TO ISSUE SHARES WORTH UPTO 30 BILLION RUPEES ON RIGHTS BASIS
Source text for Eikon: ID:nBSEbkqRxt
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Jan 19 (Reuters) - Tata Consumer Products Ltd TACN.NS:
APPROVAL FOR FUND RAISING PROPOSALS
RAISING OF FUNDS THROUGH ISSUANCE AND ALLOTMENT OF COMMERCIAL PAPERS, FOR AN AMOUNT NOT EXCEEDING 35 BILLION RUPEES
TO ISSUE SHARES WORTH UPTO 30 BILLION RUPEES ON RIGHTS BASIS
Source text for Eikon: ID:nBSEbkqRxt
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India's Tata Consumer Products to buy Capital Foods for $616 mln
BENGALURU, Jan 12 (Reuters) - India's Tata Consumer Products TACN.NS will buy Capital Foods for an enterprise value of 51 billion rupees ($615.95 million), it said via an exchange filing on Friday.
($1 = 82.7996 Indian rupees)
(Reporting by Ashna Teresa Britto; Editing by Devika Syamnath)
(([email protected];))
BENGALURU, Jan 12 (Reuters) - India's Tata Consumer Products TACN.NS will buy Capital Foods for an enterprise value of 51 billion rupees ($615.95 million), it said via an exchange filing on Friday.
($1 = 82.7996 Indian rupees)
(Reporting by Ashna Teresa Britto; Editing by Devika Syamnath)
(([email protected];))
Starbucks' India arm plans to operate 1,000 cafes by 2028
Jan 9 (Reuters) - Tata Starbucks, a joint venture between Starbucks SBUX.O and Tata Consumer Products TACN.NS, said on Tuesday it plans to operate 1,000 cafes in India by 2028, up from 390 currently, and double its workforce amid fierce competition from local chains.
The coffee chain said it plans to enter Tier-2 and Tier-3 cities in tea-loving India and increase the number of its drive-thru, airport-based and 24-hour cafes.
It also plans to double its headcount to 8,600.
Among the first foreign coffee brands to enter India, the U.S. giant faces growing challenges from private equity-backed chains Third Wave and Blue Tokai which have opened about 150 stores between them in the last three years.
(Reporting by Chandni Shah in Bengaluru; Editing by Savio D'Souza)
(([email protected];))
Jan 9 (Reuters) - Tata Starbucks, a joint venture between Starbucks SBUX.O and Tata Consumer Products TACN.NS, said on Tuesday it plans to operate 1,000 cafes in India by 2028, up from 390 currently, and double its workforce amid fierce competition from local chains.
The coffee chain said it plans to enter Tier-2 and Tier-3 cities in tea-loving India and increase the number of its drive-thru, airport-based and 24-hour cafes.
It also plans to double its headcount to 8,600.
Among the first foreign coffee brands to enter India, the U.S. giant faces growing challenges from private equity-backed chains Third Wave and Blue Tokai which have opened about 150 stores between them in the last three years.
(Reporting by Chandni Shah in Bengaluru; Editing by Savio D'Souza)
(([email protected];))
Tata Consumer Set To Buy Controlling Stake In Capital Foods- ET Now
Dec 18 (Reuters) -
TATA CONSUMER SET TO BUY CONTROLLING STAKE IN CAPITAL FOODS- ET NOW
Source text: https://tinyurl.com/5f6wt6x6
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Dec 18 (Reuters) -
TATA CONSUMER SET TO BUY CONTROLLING STAKE IN CAPITAL FOODS- ET NOW
Source text: https://tinyurl.com/5f6wt6x6
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Tata Consumer Products Appoints Ashish Goenka As Group CFO
Dec 1 (Reuters) - Tata Consumer Products Ltd TACN.NS:
APPOINTMENT OF ASHISH GOENKA AS GROUP CFO
Source text for Eikon: ID:nBSE3W8JjQ
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Dec 1 (Reuters) - Tata Consumer Products Ltd TACN.NS:
APPOINTMENT OF ASHISH GOENKA AS GROUP CFO
Source text for Eikon: ID:nBSE3W8JjQ
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Tata Consumer Products Entered Into Composite Scheme Of Arrangement
Nov 30 (Reuters) - Tata Consumer Products Ltd TACN.NS:
ENTERED INTO COMPOSITE SCHEME OF ARRANGEMENT WITH TATA COFFEE AND TCPL BEVERAGES & FOODS
UPON SCHEME BECOMING EFFECTIVE, TATA COFFEE SHALL STAND AMALGAMATED WITH CO
Source text for Eikon: ID:nBSE6x91QW
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Nov 30 (Reuters) - Tata Consumer Products Ltd TACN.NS:
ENTERED INTO COMPOSITE SCHEME OF ARRANGEMENT WITH TATA COFFEE AND TCPL BEVERAGES & FOODS
UPON SCHEME BECOMING EFFECTIVE, TATA COFFEE SHALL STAND AMALGAMATED WITH CO
Source text for Eikon: ID:nBSE6x91QW
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India's Tata Consumer Products rises to a record high
** Shares of Tata Consumer Products Ltd TACN.NS rise 1.1% to a record high of 940.9 rupees
** Reuters could not immediately ascertain the reason for stock move
** Stock has risen ~4.5% since reporting Q2 profit climb on Oct. 31
** Stock on track for a second consecutive session of gains if trends hold
** More than 800,000 shares change hands by 2:45 p.m. IST vs 30-day avg of over 1.5 mln shares
** Twenty-two of the 26 analysts covering the stock have a "buy" or "strong buy" rating, 3 has "hold" while 1 rate it at "sell" or "strong sell"; median PT is 990 rupees - LSEG data
** Stock up ~21.8% YTD outperforming the 19% gain in the broader Nifty FMCG index .NIFTYFMCG
(Reporting by Yagnoseni Das in Bengaluru)
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** Shares of Tata Consumer Products Ltd TACN.NS rise 1.1% to a record high of 940.9 rupees
** Reuters could not immediately ascertain the reason for stock move
** Stock has risen ~4.5% since reporting Q2 profit climb on Oct. 31
** Stock on track for a second consecutive session of gains if trends hold
** More than 800,000 shares change hands by 2:45 p.m. IST vs 30-day avg of over 1.5 mln shares
** Twenty-two of the 26 analysts covering the stock have a "buy" or "strong buy" rating, 3 has "hold" while 1 rate it at "sell" or "strong sell"; median PT is 990 rupees - LSEG data
** Stock up ~21.8% YTD outperforming the 19% gain in the broader Nifty FMCG index .NIFTYFMCG
(Reporting by Yagnoseni Das in Bengaluru)
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India’S Tata Consumer Products Q2 Consol Net Profit at 3.38 Billion Rupees
Oct 31 (Reuters) - Tata Consumer Products Ltd TACN.NS:
Q2 CONSOL NET PROFIT 3.38 BILLION RUPEES; REFINITIV IBES PROFIT EST. 3.35 BILLION RUPEES
Q2 CONSOL REV FROM OPS 37.34 BLN RUPEES
YEAR AGO Q2 CONSOL NET PROFIT 3.28 BILLION RUPEES, REVENUE 33.63 BILLION RUPEES
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Oct 31 (Reuters) - Tata Consumer Products Ltd TACN.NS:
Q2 CONSOL NET PROFIT 3.38 BILLION RUPEES; REFINITIV IBES PROFIT EST. 3.35 BILLION RUPEES
Q2 CONSOL REV FROM OPS 37.34 BLN RUPEES
YEAR AGO Q2 CONSOL NET PROFIT 3.28 BILLION RUPEES, REVENUE 33.63 BILLION RUPEES
Source text for Eikon: [ID:]
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India's Tata Coffee posts strong Q2 pre-tax profit on lower costs, higher prices
BENGALURU, Oct 19 (Reuters) - India's Tata Coffee TACO.NS on Thursday reported a near 63% rise in second-quarter profit, as lower costs and higher prices for its premium brands such as Gold and Eight o'clock coffee more than offset subdued sales.
Consolidated profit before exceptional items and tax for the July-Sept quarter stood at 820.4 million rupees ($9.86 million), compared with 503.8 million rupees a year earlier, the company said.
The company, which is a supplier to a joint venture between U.S. coffee chain Starbucks SBUX.O and parent Tata Consumer Products TACN.NS, reported a 51.5% rise in pre-tax profit of its value-added business.
The business accounted for 82% of Tata Coffee's pre-tax profit in the latest quarter.
However, total revenue from operations fell 3.1% to 6.96 billion rupees.
"Coffee Plantation performance was subdued due to lower volumes sold, though realizations have improved," Managing Director Chacko Thomas said in a statement.
Expenses fell 5.3% to 6.37 billion rupees, as raw material costs eased.
Separately, Tata Coffee renamed K Venkataramanan as chief financial officer.
Tata Consumer Products will report earnings next week.
Earlier in the day, consumer major Nestle India NEST.NS beat estimates with a 37.3% rise in September-quarter profit on higher demand for its chocolates and instant noodles.
($1 = 83.1729 Indian rupees)
(Reporting by Manvi Pant in Bengaluru; Editing by Anil D'Silva)
(([email protected]; +918447554364;))
BENGALURU, Oct 19 (Reuters) - India's Tata Coffee TACO.NS on Thursday reported a near 63% rise in second-quarter profit, as lower costs and higher prices for its premium brands such as Gold and Eight o'clock coffee more than offset subdued sales.
Consolidated profit before exceptional items and tax for the July-Sept quarter stood at 820.4 million rupees ($9.86 million), compared with 503.8 million rupees a year earlier, the company said.
The company, which is a supplier to a joint venture between U.S. coffee chain Starbucks SBUX.O and parent Tata Consumer Products TACN.NS, reported a 51.5% rise in pre-tax profit of its value-added business.
The business accounted for 82% of Tata Coffee's pre-tax profit in the latest quarter.
However, total revenue from operations fell 3.1% to 6.96 billion rupees.
"Coffee Plantation performance was subdued due to lower volumes sold, though realizations have improved," Managing Director Chacko Thomas said in a statement.
Expenses fell 5.3% to 6.37 billion rupees, as raw material costs eased.
Separately, Tata Coffee renamed K Venkataramanan as chief financial officer.
Tata Consumer Products will report earnings next week.
Earlier in the day, consumer major Nestle India NEST.NS beat estimates with a 37.3% rise in September-quarter profit on higher demand for its chocolates and instant noodles.
($1 = 83.1729 Indian rupees)
(Reporting by Manvi Pant in Bengaluru; Editing by Anil D'Silva)
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What does Tata Consumer Produc do?
Tata Consumer Products is a focused consumer products company uniting the food and beverage interests of the Tata Group under one umbrella. Tata Consumer Products and its subsidiaries (together referred to as the Group) and the Group’s associates and joint ventures are engaged in the trading, production and distribution of Consumer products mainly Tea, Coffee, Water, Salt, Pulses, Spices, Snacks, Ready-to-Eat packaged foods products etc collectively termed as branded business. The Group has branded business mainly in India, Europe, US, Canada and Australia. The non-branded plantation business is in India and tea and coffee extraction businesses are mainly in India, Vietnam and the US.
Who are the competitors of Tata Consumer Produc?
Tata Consumer Produc major competitors are CCL Products (India), Vintage Coffee & Bev, Andrew Yule, Mcleod Russel, Goodricke Group, Harrisons Malayalam, Jay Shree Tea. Market Cap of Tata Consumer Produc is ₹1,11,427 Crs. While the median market cap of its peers are ₹543 Crs.
Is Tata Consumer Produc financially stable compared to its competitors?
Tata Consumer Produc seems to be financially stable compared to its competitors. The probability of it going bankrupt or facing a financial crunch seem to be lower than its immediate competitors.
Does Tata Consumer Produc pay decent dividends?
The company seems to pay a good stable dividend. Tata Consumer Produc latest dividend payout ratio is 63.85% and 3yr average dividend payout ratio is 64.42%
How has Tata Consumer Produc allocated its funds?
Companies resources are allocated to majorly productive assets like Plant & Machinery
How strong is Tata Consumer Produc balance sheet?
Balance sheet of Tata Consumer Produc is strong. But short term working capital might become an issue for this company.
Is the profitablity of Tata Consumer Produc improving?
Yes, profit is increasing. The profit of Tata Consumer Produc is ₹1,413 Crs for TTM, ₹1,278 Crs for Mar 2025 and ₹1,150 Crs for Mar 2024.
Is the debt of Tata Consumer Produc increasing or decreasing?
The net debt of Tata Consumer Produc is decreasing. Latest net debt of Tata Consumer Produc is -₹3,782.54 Crs as of Mar-25. This is less than Mar-24 when it was -₹1,955 Crs.
Is Tata Consumer Produc stock expensive?
Yes, Tata Consumer Produc is expensive. Latest PE of Tata Consumer Produc is 84.27, while 3 year average PE is 81.34. Also latest EV/EBITDA of Tata Consumer Produc is 45.66 while 3yr average is 42.77.
Has the share price of Tata Consumer Produc grown faster than its competition?
Tata Consumer Produc has given better returns compared to its competitors. Tata Consumer Produc has grown at ~26.98% over the last 6yrs while peers have grown at a median rate of 23.18%
Is the promoter bullish about Tata Consumer Produc?
Promoters stake in the company seems stable, and we need to go through filings and allocation of resources to gauge promoter bullishness. Latest quarter promoter holding in Tata Consumer Produc is 33.84% and last quarter promoter holding is 33.84%.
Are mutual funds buying/selling Tata Consumer Produc?
The mutual fund holding of Tata Consumer Produc is increasing. The current mutual fund holding in Tata Consumer Produc is 9.74% while previous quarter holding is 9.55%.