Tata Consumer Products Q1 results: Net profit increased by 81.78% to Rs. 345.55 crores
Tata Consumer Products: Initially, the company was also known as Tata Global Beverages Limited and later it renamed as a Tata Consumer Products. However, the company is engaged in non-alcoholic beverages in India located in Kolkata. The company is one of the subsidiaries of the Tata Group. It is one of the largest manufacturing companies in tea and coffee production.
Meanwhile, on Wednesday, August 5th, the company shares plunged almost 2% in the stock market. The main reason for this is due to the company reported its Q1 results for the financial year 2020-21. The company’s consolidated net profit increased by 81.78% to Rs. 345.55 crores in Q1FY21. While the company also posted its net profit of Rs. 190.09 crores in the same quarter last financial year.
While the company’s total revenue increased by 13.44% to Rs. 2,713.91 crores in this quarter ended on June 30th. While the company also posted its total revenue of Rs. 2,392.36 crores in the same quarter last fiscal year.
Besides, the companies total expenditure during this quarter increased by 9.10% to Rs. 2,310.44 crores as against Rs. 2,117.69 crores in the same quarter last fiscal year.
On the other side, the merging of the consumer products business of Tata Chemicals with Tata Global Beverages and named as TCPL. However, the revenue of TCPL from India increased by 10.99% to Rs. 1,000.46 crores as against Rs. 901.37 crores in the same quarter last year. Whereas, the company also acquired 50% stakes of PepsiCo India on May 18th, 2020.
However, the shares of Tata Consumer Products Limited reported a bearish trend in the stock market on Wednesday. The company lost 1.75 points with a 0.39% decrease and reached 448.00 INR. While in BSE, the company lost 2.05 points with a 0.46% decrease and reached 447.70 INR.
Stock Market August 5th:
On Wednesday, both Sensex and Nifty reported a mixed trend in the stock market. The Sensex is trading below 37,700 levels and Nifty is trading above 11,100 levels in the stock market. The Sensex lost 24.58 points with a 0.065% decrease and reached a 37,663.33 level. While Nifty gained 22.45 points with a 0.20% increase and reached 11,117.70 level.
On the other side, the number of coronavirus cases in India reached 19,08,254 as of Wednesday, August 5th, and deaths reached 39,795.
In the border market, the S&P BSE SmallCap reported a bullish trend in the stock market on Wednesday. It gained 112.62 points with a 0.85% increase and reached a 13,429.58 level. The S&P BSE MidCap gained 53.82 points with a 0.39% increase and reached a 13,910.26 level. While Nifty Bank gained 19.45 points with a 0.09% increase and reached 21,509.95 level.
Top Gainers on August 5th: Hindalco Industries, Tata Steel, Eicher Motors, Adani Ports, and Tata Motors are the top gainers in today’s stock market.
Top Losers on August 5th: UPL, HDFC Life, HDFC Bank, Power Grid Corporation, and Reliance Industries are the top losers in today’s stock market.