CEO said – constant pressure of inflation on salt, so the prices will have to be increased. Tata Consumer to make salt costlier | NewsBust CEO said – constant pressure of inflation on salt, so the prices will have to be increased. Tata Consumer to make salt costlier | NewsBust

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CEO said – constant pressure of inflation on salt, so the prices will have to be increased. Tata Consumer to make salt costlier

By Amit - August 11, 2022

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New Delhi32 minutes ago

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The price of Tata salt is going to increase. Right now the cost of one kg of salt is Rs 28. Is. Rising inflation is affecting the company’s margins, due to which Tata Consumer Products has decided to increase the prices. However, the information about when the price will be increased has not been revealed yet. In a conversation with a business news channel, the company’s MD and CEO Sunil D’Souza gave this information.

D’Souza said, “We are in the process of increasing the price of salt to set the margins right.” “There is constant pressure on salt. Two components drive the cost of salt. Brine and Energy. The price of brine is flat after going up last year while the cost of energy is very high. This is the reason why there is pressure on the salt margins.

Good performance of food-beverage business
Tata Consumer announced its first quarter results on Wednesday. The food and beverage business has performed well. The good performance of the tea business has offset the impalementary pressure of salt. Profit rose 38% year-on-year (YoY) to Rs 255 crore in the June quarter, as against Rs 240 crore in the same period last year.

Company’s Massive Expansion Plan
The CEO said, the focus of the company is now on volume. The company has a massive expansion plan in both urban and rural areas. Tata Consumer’s stock is trading close to Rs 775 per share, down almost 2% on Thursday. It has gained 1.51% in the last one month and 4.55% so far this year.

There is more news…

Amit

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