Tata Starbucks revenue hikes 76% to Rs 636 crore in FY22
Zee News
Tata Starbucks has reported a 76 per cent growth in revenue to Rs 636 crore for 2021-22.
New Delhi: Coffee chain operator Tata Starbucks Ltd has reported a 76 per cent growth in revenue to Rs 636 crore for 2021-22 and "significantly" reduced its net loss, driven by normalisation of operations following easing of COVID-related restrictions. Its revenue growth was led by higher realisation from existing stores and new stores added during the financial year ended on March 31, 2022, as per the latest annual report of Tata Consumer Products Ltd (TCPL).
"Revenue from Operations at Rs 636 crores, grew by 76 per cent and net loss declined significantly," TCPL said while sharing details of the performance of its JV.
However, it did not specify the net loss for FY22.
It "saw a strong recovery since re-opening following the second wave of the pandemic" and accelerated its store openings during the year with 50 new stores, the highest number of store openings in a single year so far.
The company now has 268 stores across 26 cities.
