On Wednesday, Tata Coffee disclosed a consolidated net profit of INR 62.06 crore for the quarter ending in June, reflecting a 5 percent decrease. In the corresponding period last year, the company’s net profit was INR 65.49 crore.
According to a regulatory filing by Tata Coffee, the total income for the first quarter of this fiscal increased to INR 707.93 crore, up from INR 666.05 crore in the corresponding period of the previous year.
The surge in overall income was fueled by increased revenues in the plantation coffee and instant coffee sectors in both India and Vietnam.
“Tata Coffee’s Vietnam operations continue to deliver strong sales with improved profitability driven by higher sales of premium products. It has a robust healthy order pipeline,” it said.
During the June quarter, the operational performance of EOC (Eight O’clock Coffee) business was affected by reduced bag volumes and elevated input costs.
“The Group’s consolidated profit for Q1, FY’24 is marginally lower at INR 62 crore compared to INR 65 crore in the corresponding quarter of the previous financial year due to subdued performance of EOC,” the company said.
Tata Coffee Ltd, previously known as Tata Global Beverages Ltd, is a subsidiary of Tata Consumer Products Ltd. As Asia’s most significant integrated coffee company, it holds the distinction of being India’s foremost producer of specialty coffee and the second-largest exporter of instant coffee.
At its 19 estates in South India, the company cultivates shade-grown arabica and robusta coffee, yielding an annual production of approximately 8,000 to 10,000 tonnes.
