Tata Consumer Products on May 6 reported consolidated net profit of Rs 53.9 crore for the March 2021 quarter, against loss of Rs 76.49 crore in the year-ago quarter.
"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 & joint ventures," Tata Consumer Products said in its BSE filing.
"Profit before exceptional items and tax at Rs 262 crore is higher by 6 percent as compared to 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.
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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 growth was mainly driven by volume and value growth in the India branded business and improved performance of non-branded business," said the company.
The company further said during the quarter and financial 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.
The exceptional loss for the current quarter (at Rs 63.93 crore) mainly represent costs relating to the business restructure and reorganisation of Rs 18 crore and loss on disposal of an overseas subsidiary/joint venture of Rs 46 crore, the company added.
The firm also recommended a final dividend of Rs 4.05 per equity share for the financial year 2020-21.