InvestorQ : Why has Tata Consumers rallied sharply after the Jun-20 quarter results?
shrinidhi Rajan made post

Why has Tata Consumers rallied sharply after the Jun-20 quarter results?

Answer
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Riya Dwivedi answered.
1 month ago


Tata Consumer Products reported 82% increase in net profit at Rs 346 crore for the Jun-20 quarter. The company was earlier called Tata Global Beverages and it adopted the new name after the salt business of Tata Chemicals was also integrated into Tata Global. However, due to lockdown impact, revenues were down 13.44% at Rs.2714 crore.

During the quarter, Tata Consumer had an extraordinary profit of Rs.84 crore on conversion of a JV into a Subsidiary. The company showed a sharp improvement in demand in key categories supported by a strong marketing campaign and innovative routes to reach the customer. COVID did impact its Starbucks franchise.