Tata Consumer Products Ltd has received an income tax demand of Rs 171.83 crore for the assessment year 2019-20. The company claims the demand is not maintainable and plans to appeal the order. The demand has no immediate impact on the company’s financials or operations.
Tata Consumer Products’ Q4 financial results led to a significant drop in its share price on Tuesday. The company reported a 22.5% decrease in net profit to ₹267.7 crore, compared to ₹345.6 crore in the corresponding period last year. Despite an 8.5% increase in revenue from operations to ₹3,927 crore, the lower profit impacted investor sentiment. Tata Consumer’s board has declared a final dividend of 775% for FY24. While the stock price initially fell over 5% in morning trade, it has since partially recovered and is currently down approximately 4.5%. Brokerage firms remain positive about the company’s long-term prospects, citing its outperformance of equity benchmarks and growth potential in its various business segments.
Several companies, including ICICI Prudential Life Insurance, Tata Consumer Products, MCX, Zydus Lifesciences, and M&M Financial Services, are attracting attention from investors. These stocks have been performing well and are expected to continue their positive momentum.
