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ICICI Direct Report
Tata Consumer Products Ltd. reported robust sales growth of 18.5% led by India beverage business growth of 32% and food business growth of 13%.
International tea business (Tetley, Teapigs, Good Earth) and U.S. coffee (Eight O'clock) grew 1% and 4%, respectively in constant currency terms.
The strong growth in India beverage business was led by 11% volume growth and price hikes in tea segment of approximately 15%.
Food business volume growth was 6%.
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