After flour, oil, now salt is going to be expensive. Salt manufacturing giant Tata Consumer Products has hinted at increasing the price of 'Tata Salt'. Inflation has affected Tata Salt's profits. According to Tata Consumer Products CEO Sunil D'Souza, inflation pressure is increasing on salt. Therefore, prices have to be increased. Due to the continuous increase in inflation, the company's revenue has been affected. In such a situation, Tata Consumer Products has decided to increase the prices of its products to save its margins.
A one kg packet of Tata Salt costs Rs.25. Its price may now go up to Rs 28 to Rs 30. Meanwhile, the company has not yet revealed how much the price will increase. D'Souza said two factors are important in determining the price of salt. This includes brine and fuel costs. Salt prices remain the same after last year's cost increase. However, the cost of energy has gone up a lot. Therefore, inflationary pressure is being seen on the margin of salt. Tata Consumer Products announced its first quarter results on Wednesday. In the food and beverage business, the company is performing well in the market. The upward pressure on salt prices has eased due to the good performance of Tata Tea's business. Tata Consumer Products' profit rose 38 percent year-on-year (YoY) to Rs 255 crore in the June quarter. In contrast, it was Rs 240 crore during the same period last year.