The company, which owns the eponymous Tata Tea and Tata Salt brands, said its consolidated net profit rose 23% to 2.69 billion rupees ($32.85 million) in the quarter ended March 31.

Analysts on an average expected a profit of 2.70 billion rupees, according to Refinitiv IBES data.

The company's consolidated revenue climbed nearly 14% to 36.19 billion rupees, led largely by a 15% rise in its India business, beating analysts' view of 35.11 billion rupees.

However, the share of the India business fell to 62% of revenue from 70%, as domestic beverages grew a weak 8% and tea volumes grew a bare 3% consecutively.

The company, which packages spices, pulses and cereals under the Tata Sampann brand, said cost of raw materials grew 11.4% to 13.38 billion rupees.

Tata Consumer Products is among the first consumer goods firms to report results. Earlier in the day, Maggi noodles producer Nestle India reported a near-25% jump in quarterly profit.

Quarterly revenue from Tata's joint venture with Starbucks Corp in India mounted 48%, while the international business that sells brands like Tetley Tea in the United Kingdom and Eight O'Clock coffee in the United States, rose 10.5%.

"We have seen a sequential improvement in international business margins and expect it to normalise by Q1FY24 (the current quarter)," the company said.

Last week, its unit Tata Coffee Ltd reported a near-20% increase in quarterly profit.

Shares of Tata Consumer have fallen 4.24% so far this year.

($1 = 81.8990 Indian rupees)

(Reporting by Hritam Mukherjee and Nandan Mandayam in Bengaluru; Editing by Sohini Goswami)