FMCG firm Tata Consumer Products Ltd (TCPL) has received a tax demand notice of Rs 171.83 crore (including interest) from the Income Tax Department for the assessment year 2019-20. The company has given this information in a stock exchange filing. Tata Consumer said in the filing, “The tax demand of the Income Tax Department is not acceptable. The company is in the process of appealing and rectifying the said order.” Tata Consumer share rose 1.14% on Friday. On Friday, Tata Consumer share closed at Rs 1,098 with a gain of 1.14%. Its market cap is Rs 1.05 lakh crore. The company has given 27.54% return to its investors in the last one year. The company’s net profit in the fourth quarter was ₹ 212 crores Tata Consumer’s consolidated net profit fell 26.69% year-on-year to ₹ 212.26 crores in the fourth quarter ended March 31, 2024. It was ₹ 289.56 crores in the same quarter a year ago. The company’s consolidated revenue from operations in the fourth quarter stood at ₹ 3,926.94 crores, as against ₹ 3,618.73 crores in the same quarter a year ago.
