Tata Consumer Products Q1 net profit rises 27.8% to ₹427 crore; Elara keeps ‘Accumulate’
AI Market Summary
Tata Consumer Products reported strong Q1 FY24 results with profit up 27.8% YoY and margin expansion, supporting a constructive near-term read-through for India consumer staples. Broker commentary stayed positive: Elara reiterated 'Accumulate' despite a modest target cut on higher ad spend and tea price risks, while Motilal Oswal maintained a 'Buy' view citing GTM execution, ecommerce mix, and premiumization.
Impact level
● Low
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AI Insight · NCCOGOLD2USD/USDTAI Insight
▲ Bullish
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Tata Consumer Products reported Q1 FY2024 results with net profit rising 27.8% year on year to ₹427 crore, while revenue increased 11.9% to ₹5,348.8 crore. EBITDA grew 19.9% to ₹724 crore and the EBITDA margin widened to 13.5%. Brokerages largely maintained positive views: Elara Capital reiterated an “Accumulate” rating while slightly cutting its target price, and Motilal Oswal kept a “Buy” rating with a ₹1,500 target.
