Despite the on-going pandemic, Tata Starbucks clocked a 14 per cent growth in revenue in Q4 FY 2021. The brand also opened 39 new stores and entered 7 new cities during the year, stated Tata Consumer Products that operates Tata Starbucks outlets in India.
The company further stated in addition, the year saw new store formats – drive through and small engine stores and entry into cities of Kochi, Lucknow, Amritsar, Ludhiana, Bhopal, Indore and Kanpur.
The company stated, “Sequential recovery continued for our out-of-home India businesses i.e. NourishCo & Tata Starbucks, notwithstanding the recent headwinds induced by the second wave of COVID.”
In the case of NourishCo, it sustained strong growth momentum during the quarter with a 86 per cent revenue growth, albeit on a low base impacted by COVID in March 2020. Geographic expansion and capacity addition for the business is on track. Tata Water Plus and Tata Gluco Plus both delivered exceptional growth. Tata Fruski- an innovative drink, inspired by local street culture, was launched in Hyderabad and Vizag with the strong initial response.
The company stated, “For the quarter, revenue from operations grew by 26 per cent (24 per cent in constant currency) as compared to corresponding quarter of the previous year, mainly driven by strong volume and value growth in the India Food & Beverage business.”
Tata Consumer Products reported a consolidated income of Rs 3,080.18 crore in Q4 FY 2021, a rise of 26.91 per cent from Rs 2,426.96 crore in Q4 FY 2020. Meanwhile, the Group consolidated net profit for the quarter ended March 31, 2021 was at Rs 74.35 crore. The net profit after taxes (excluding share of net profit in associates and joint ventures using equity method) was at Rs 133.34 crore in Q4 FY 2021.
Sunil D’Souza, Managing Director and CEO of Tata Consumer Products said, “We delivered yet another Quarter of strong revenue growth, driven by double digit volume growth in India business. The integration of our food and beverage businesses in India is complete as committed and we have started seeing synergy benefits. During the year, we have stepped up our distribution reach, invested behind our brands, and focused on premiumisation in our core portfolio.”