The company’s bottomline in the quarter was affected by a one-time loss of Rs 64 crore.
The company’s consolidated revenue from operations for the quarter surged 26 per cent year-on-year to Rs 3,037.2 crore, which was higher than analysts’ estimates. The topline of the company was aided by a low base of the year-ago quarter.
The company’s India beverages business reported a 60 per cent growth on a year-on-year basis to Rs. 1,204.8 crore. The sales of the domestic food business grew 22 per cent on-year to Rs 641.7 crore.
The operating profit of the beverages business slumped 40 per cent on-year to Rs 52.4 crore indicating the impact of the significant inflation in prices of tea during the quarter. At the same time, the operating profit of the food business rose 51 per cent on-year to Rs 87 crore.
The company’s board approved a final dividend of Rs 4.05 per share for the financial year ended March.
“We expect the stock to be weak in the near term given the miss in margins,” said Edelweiss Securities.
