To expand its profit margins that have been affected by a jump in input prices, Tata Tea will hike prices across its brand portfolio over the next few months, news agency PTI quoted chief executive and managing director Sunil A D’Souza as saying.
D’Souza said Tata Consumer Products expected a rise in overall volumes that were affected by various reasons, including urban flooding, sluggish rural economy and a slowdown in growth. The company, which posted a 1% jump in profits in the July-September quarter despite an 11% jump in revenues, feels that the tea prices have shot up by over 25% this year because of supply disruptions.
Tata Tea holds a nearly 28% market share in the tea retail market in the country and competes with HUL in the category. D’Souza said the overall tea production is down 20%, and exports have grown.
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Naresh Khanna – 10 February 2025
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