Tata Consumer Products Share Price is in focus today after company reported its quarter 1 results on 30th July.
Tata Consumer Products Ltd (TCPL) on Tuesday reported a 14.34 per cent decline in consolidated net profit to Rs 289.25 crore in the first quarter ended in June 2024 on account of exceptional items and lower share of profits from its associates and joint ventures.
The company had posted a consolidated net profit of Rs 337.71 crore in the April-June quarter a year ago, according to a regulatory filing from TCPL.
Its revenue from operations rose by 16.32 per cent to Rs 4,352.07 crore during the quarter under review. It was at Rs 3,741.21 crore in the year-ago period.
Total expenses of TCPL, earlier known as Tata Global Beverages Limited (TGBL), stood at Rs 3,926.29 crore, up 18.82 per cent in the June quarter.
Tata Consumer Products Share Price Target
Goldman Sachs maintained ‘Neutral’ rating for Tata Consumer Products with a target price of Rs 1,086 per share.
Jefferies maintained a hold call on TCPL with the target slashed marginally to Rs 1,190.
Citi on Tata Consumer Products maintained buy for a target of Rs 1,268- suggesting an upside of over 6 per cent.
Morgan Stanley continued to remain overweight on the company for a target of Rs 1,288.
JP Morgan maintained a neutral call on the stock with a target price of Rs 1,068.
Tata Consumer Share Price Performance
Shares of Tata Consumer Products settled 0.64% lower at Rs 1193.85 on BSE, on July 30. Yesterday ‘s intra-day high was at Rs 1212 and low was at Rs 1189.80 respectively.
In the last few years, Shares of Tata Consumer Products have given positive returns to investors. The stocks climbed around 7% in the past six months. The one year returns of the stock stood at 40.69 and three years were 59.81% as per BSE analytics.
Tata Consumer Products Q1 Results 2024
“For the quarter, revenue from operations grew by 16 per cent as compared to the corresponding quarter of the previous year. Organic growth, excluding acquisitions (Capital Foods and Organic India) was 10 per cent,” TCPL said in a statement.
Group consolidated net profit is lower on account of “higher exceptional items and lower share of profits from Associates and Joint Ventures”, it added. TCPL had a cost of Rs 17 crore as an exceptional item related to business restructuring and organisation.
In the June quarter, TCPL’s overall branded business was up 14.5 per cent to Rs 3,861.51 crore. It was at Rs 3,372.75 crore in the corresponding quarter last fiscal.
TCPL’s branded businesses include tea, coffee, water and other various value-added businesses. Its revenue from the branded business in India was up 13.6 per cent to Rs 2,815.12 crore in the June quarter.
(Disclaimer: The information provided in this article is for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.)
Also Read:
