India's Tata Consumer posts higher quarterly profit on strong consumer demand
Jan 27 (Reuters) - India's Tata Consumer Products TACN.NS posted a higher third-quarter profit on Tuesday, aided by sweeping consumption tax cuts that increased demand for consumer goods.
The Tata group-owned company's consolidated net profit rose to 3.85 billion rupees ($41.96 million) for the quarter ended December 31, from 2.79 billion rupees a year earlier.
Tata Consumer, however, incurred a one-time charge worth 228.6 million rupees during the quarter.
($1 = 91.7512 Indian rupees)
(Reporting by Abhirami G in Bengaluru; Editing by Sonia Cheema)
((abhirami.g@thomsonreuters.com))
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