Tata Consumer Products' shares traded at a 52-week high price on Wednesday after the Tata Group FMCG major reported a robust June quarter, with net profit rising 82 percent year-on-year (YoY) to Rs 346 crore. The FMCG stock surged as much as 4.8 percent to Rs 471.80 per share on the NSE. At 10:54 am, the shares traded 0.21 percent lower to Rs 448.80. The company posted a net profit of Rs 190.09 crore in the same period a year ago.

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Revenue from operations rose 13.44 percent YoY to Rs 2,173.91 crore as against Rs 2,392.36 crore in the corresponding quarter last year led by the volume and value growth in both India and international business.

The company also intimated that Tata Starbucks' operations for Q1 was adversely impacted due to COVID-19. As of June 30th 2020, about 60 percent of the total 186 stores have reopened, it said

We have recorded good revenue and profit growth in Q1 due to increased demand in some categories, strong marketing campaigns and adopting new routes to reach the end consumer effectively, TCPL Managing Director & CEO Sunil D'Souza said.

The revenue from international business (beverages) increased nearly 15 percent YoY to Rs 867.38 crore. "In our international markets, we are investing behind our core brands and driving innovations in the tea and coffee segment. We are also strengthening key processes across the organization to scale up capability and build a future-ready organization," added D'Souza.

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First Published:Aug 5, 2020 12:22 PM IST