Tata Consumer Products Beats Quarterly Profit Estimates
Tata Consumer Products reported a 21.5% rise in quarterly profit to 4.19 billion rupees. Strong domestic sales helped the company exceed analyst estimates.
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TATA CONSUMER PRODUCTS LTD reported a 21.5% rise in quarterly net profit to 4.19 billion rupees midday Friday. The result beat LSEG analyst estimates of 4.02 billion rupees as core branded domestic revenue grew 13.3%. Recovering demand in India signals a turnaround for consumer goods after a prolonged urban-led slowdown.
Revenue for the March quarter rose 18% to 54.34 billion rupees. Total expenses increased 16% during the same period.
