(Reuters) -India’s Tata Consumer Products missed first-quarter profit estimates on Wednesday, as elevated tea prices pressured the company’s margins.
Net profit came in at 3.34 billion rupees ($38.7 million) for the quarter ended June, compared with analysts’ average estimate of 3.56 billion rupees, according to data compiled by LSEG.
($1 = 86.3850 Indian rupees)
(Reporting by Ananta Agarwal and Hritam Mukherjee in Bengaluru; Editing by Maju Samuel)
