Tata Consumer Products Q2 Results: Stock recovers on earnings beat; Margins narrow

Shares of Tata Consumer Products Ltd

. (TCPL) recovered from the lows of the day to trade with gains in response to their quarterly results that were reported on Monday, October 3.

The company's net profit for the quarter increased by 10.5% from last year to ₹397 crore, which is higher than the CNBC-TV18 poll of ₹367 crore.

Revenue for the quarter stood at ₹4,966 crore, 18% higher than the ₹4,214 crore reported during the base quarter, and also a beat compared to the CNBC-TV18 poll of ₹4,782 crore.

Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) for the quarter grew by 7.3% from last year to ₹672 crore. A CNBC-TV18 poll was projecting the figure to be ₹630 crore.

EBITDA margin for the quarter, although narrower by 140 basis points from last year's figure of 14.9%, but was beat at 13.5% compared to the CNBC-TV18 poll of 13.2%.

Shares of Tata Consumer Products recovered from the lows of the day, and are currently trading 0.6% higher at ₹1,172.2, after the earnings announcement.

To be updated with more.