Tata Consumer Products reported its results for the second quarter on Friday after markets closed.

What Happened: The Tata Group firm’s net profit jumped 7.7% year-on-year to ₹364.42 crore for the July to September quarter compared to ₹338 crore in the same quarter a year ago. Sequentially, profit rose around 26% from ₹290.32 crore.

Revenue from operations stood at ₹4,214.45 crore, representing a 13% YoY jump from ₹3,734 crore in the year-ago period. In the June quarter, the company delivered an operational revenue of  ₹4,352.07 crore.

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The revenue numbers failed to meet analysts’ expectations who, on average, had seen the company posting ₹4,337 crore in revenue whereas net profit was slightly above the street’s estimates of ₹339 crore.

Under Tata Consumer’s Branded Business segment which includes the sale of tea, coffee and food products– revenue from India operations came in at ₹2,655 crore whereas the firm’s international operations yielded a revenue of ₹1,116 crore.

The company’s peer Nestle India reported its second-quarter results on Thursday where it failed to meet the street’s expectations. The company’s net profit declined 1% to ₹899.5 crore whereas its revenue from operations jumped 1.3% to ₹5,104 crore.

Price Action: Shares of Tata Consumer closed 0.63% higher at ₹1,097 on Friday.

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