The consolidated revenue from operations during the quarter increased 4 per cent to Rs 1,834 crore, driven by improvements in both branded and non-branded business. In the constant currency (CC) terms, revenue grew 5 per cent. EBITDA (earnings before interest, tax, depreciation and amortisation) margin improved 100 basis points (bps) to 12.9 per cent.
The management said improvement is driven by branded business, both India and international, coupled with stable performance in non-branded businesses. The India business recorded continued value and volume growth. The flagship brands in India recorded good growth and the company will continue to focus on white space opportunities in the Indian market. International markets
reflected volume growth in both tea and coffee, it added.
The joint venture company Tata Starbucks clocked a 26 per cent growth in revenue for the quarter. It entered Gujarat in August, with 10 stores, now has total 163 stores spread across 10 cities in India. The consumer connection scores are at an all time high, the company said.
At 10:20 am, the stock was trading 5 per cent higher at Rs 305, as compared to a 0.44 per cent rise in the S&P BSE Sensex. The trading volumes on the counter surged nearly four-fold with a combined 9 million shares changing hands on the NSE and BSE so far.