Tata Consumer Products Crashes Over 4% Post March Quarter Earnings

Tata Consumer Products reported a consolidated net profit of Rs 133.34 crore for March quarter as against a loss of Rs 50 crore in year-ago period

Tata Consumer Products shares crashed more than 4 per cent in a firm market a day after posting its Q4 earnings. The company reported a consolidated net profit of Rs 133.34 crore for the March quarter as against a loss of Rs 50 crore in the year-ago period, mainly on account of growth in revenue and control over expenditure. At 12:20 pm, the shares of Tata Consumer Products were trading at Rs 626, weaker by 4.1 per vent, on the BSE. The revenues from operations rose 26.2 per cent in the quarter under consideration to Rs 3,037 crore from Rs 2,405 crore in the same quarter last year. The margins were, however, impacted by tea cost inflation in the country. Meanwhile, the company's board recommended a final dividend of Rs 4.05 per share for financial year 2020-21.