TATACONSUM · Fast Moving Consumer Goods
Headline profit grew much faster than core profit. What made up the difference?
Reported profit +14.9% on the year; profit before other income, exceptional items and tax −0.5%.
Source: Quarterly statements
Operating margin slipped on the year.
EBITDA margin 12.7%, −262 bps on the year (−78 bps on the quarter).
Source: Quarterly statements
Could not run on this quarter: Exceptional items that recur, Cash behind the profit, Receivables against sales, Inventory against sales, Borrowing while holding cash, Auditor's review or audit report, IPO money used as stated, Related-party transactions, Exits, postponements, restatements, Promoter pledges and allotments, Earlier promises against delivery, When the results were filed. Most need the filing read (balance sheet, cash flow, auditor, disclosures).
Net profit a year ago, each driver's change, and net profit now. Blue added profit, red took it away.
| Q3 FY24 | Q4 FY24 | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 | Q2 FY27 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ₹3,804 cr | ₹3,927 cr | ₹4,352 cr | ₹4,214 cr | ₹4,444 cr | ₹4,608 cr | ₹4,779 cr | ₹4,966 cr | ₹5,112 cr | ₹5,434 cr | ₹5,349 cr | ₹5,661 cr |
| YoY | — | — | +16% | +13% | +17% | +17% | +10% | +18% | +15% | +18% | +12% | +14% |
| EBITDA margin | 15.0% | 16.0% | 15.3% | 14.9% | 12.7% | 13.5% | 12.7% | 13.5% | 14.1% | 14.6% | 13.5% | 13.8% |
| Other income, % of PBT | −8% | −60% | 5% | 5% | 11% | 19% | 9% | 7% | 2% | 9% | 12% | 5% |
| Exceptional items | — | — | — | — | — | — | — | — | — | — | — | — |
| Tax rate | 25% | 9% | 30% | 10% | 25% | 23% | 26% | 24% | 25% | 24% | 25% | 25% |
| Net profit | ₹302 cr | ₹212 cr | ₹289 cr | ₹367 cr | ₹282 cr | ₹349 cr | ₹332 cr | ₹407 cr | ₹385 cr | ₹424 cr | ₹427 cr | ₹470 cr |
| YoY | — | — | −14% | +1% | −7% | +65% | +15% | +11% | +37% | +21% | +29% | +15% |
| Core profit YoY | — | — | −2% | −9% | −21% | −9% | −0% | +28% | +48% | +38% | +23% | +22% |
| EPS | ₹2.89 | ₹2.19 | ₹2.93 | ₹3.68 | ₹2.82 | ₹3.49 | ₹3.38 | ₹4.09 | ₹3.89 | ₹4.24 | ₹4.31 | ₹4.74 |
| Flags | · | 1 | ✓ | 2 | ✓ | 1 | 1 | ✓ | ✓ | ✓ | ✓ | ✓ |
Each quarter is read with the same rules. Balance-sheet and cash checks run on half-year and annual quarters; filing-read checks run where a read exists.
Tata Consumer Products Ltd. reported revenue of ₹4,779 cr (+9.8% on the year) and net profit of ₹332 cr (+14.9% on the year) for April to June 2025.
Profit before other income, exceptional items and tax moved −0.5% on the year, against +14.9% for reported profit.
1 check raised a question: Headline profit grew much faster than core profit. What made up the difference?
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