Packaged foods company Tata Consumer Products announced Q1FY24 results: Revenue from operations for Q1FY24 at Rs 3,471 crore higher by 12% YoY Consolidated EBITDA for Q1FY24 at Rs 547 crore grew by 19% YoY Profit before exceptional items and tax at Rs 495 crore is higher by 23% YoY Group net profit for Q1FY24 at Rs 338 crore grew by 22% YoY Sunil D’Souza, Managing Director & CEO of Tata Consumer Products, said, “We delivered strong topline growth of 12% along with earnings growth of 23% this quarter. Additionally, we were able to expand the EBITDA margin despite continuing investments in new businesses. During Q1FY24 we saw positive results from the interventions put in place for the branded tea business, which grew volumes for the second consecutive quarter. Despite the pricing actions taken earlier to manage inflation, we continue to maintain volume growth momentum in Salt. We continued to accelerate innovation across categories with several new launches to expand our total addressable market. Our growth businesses (Tata Sampann, Tata Soulfull, and Nourish Co) continued their strong growth trajectory, they grew by 58% this quarter and accounted for 20% of the India-branded business. Tata Starbucks continued to deliver a strong performance along with store expansion. Our innovation agenda fired on all cylinders with Innovation-to-Sales reaching 5% during Q1FY24. In our sales & distribution expansion, we are on track to achieving a total reach of 4 million outlets by September 2023 and we will continue to expand direct distribution in smaller towns. We continue to record strong growth momentum in alternative channels- modern trade and e-commerce. Going forward, we will stay focused on driving profitable growth while making consistent progress in our transformation journey towards becoming a leading FMCG company.” Result PDF