Coffee chain operator Tata Starbucks Ltd has reported a 76 per cent growth in revenue to Rs 636 crore for 2021-22 and “considerably” lowered its web loss, pushed by normalisation of operations following easing of Covid-related restrictions.
Its revenue growth was led by increased realisation from current shops and new shops added throughout the monetary yr ended on March 31, 2022, as per the most recent annual report of Tata Consumer Products Ltd (TCPL).
“Revenue from Operations at Rs 636 crores, grew by 76 per cent and web loss declined considerably,” TCPL mentioned whereas sharing particulars of the efficiency of its JV.
However, it didn’t specify the web loss for FY22.
It “noticed a robust restoration since re-opening following the second wave of the pandemic” and accelerated its retailer openings throughout the yr with 50 new shops, the best variety of retailer openings in a single yr up to now.
The firm now has 268 shops throughout 26 cities.
“During the monetary yr 2021-22, the Company has invested an quantity of Rs 86 crore in the direction of fairness capital,” TCPL added.
“As COVID restrictions eased by the yr, strong sequential restoration of gross sales was achieved and added 50 new shops with growth into 8 new cities. The new shops are a mixture of landmark retailer openings viz., Golden Temple complicated in Amritsar, Jio World Drive in Bandra Kurla Complex in Mumbai and Brahmaputra Riverfront in Guwahati, and smaller footprint shops,” it mentioned.
Moreover, loyalty programme My Starbucks Rewards’ member base witnessed a growth of 21 per cent final yr. It boasts of a loyalty base of shut to 1.1 million prospects.
“Tata Starbucks targeted on innovation, digital and deep buyer connections to navigate this pandemic and make the Starbucks expertise as participating and personalised as ever,” it added.
Its supply vertical continues to carry out properly even after the easing of dine-in restrictions.
“The enterprise was ready to ship breakeven on the working revenue degree earlier than depreciation and amortization (EBITDA),” it mentioned.
As COVID restrictions eased by the yr, Tata Starbucks witnessed a strong sequential restoration of gross sales in the enterprise and by March, the shop operation index reached 95 per cent, it mentioned.
“We additionally noticed a rise in common every day transactions on our supply channel with the restrictions, and the degrees stabilised increased versus pre-COVID even because the restrictions eased,” the corporate mentioned.
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