Tata Coffee on Monday reported 75 per cent jump in its consolidated net profit at Rs 17.5 crore for the second quarter ended September 30 compared to the corresponding quarter last fiscal.
Its total income for the quarter increased by 39 per cent to Rs 416.5 crore as against the year-ago period.
The company reported 27.4 per cent drop in its operating profit for the period at Rs 32 crore as against Rs 44 crore in the same period last year.
This was primarily due to the performance of Eight 'O' Clock Coffee in the current period, which has been impacted on account of sharp escalation in the raw material cost.
During the six-month period, EOC’s total income was $111.14 million as against $92.71 million in the previous year.
During the first six months of the current fiscal, Tata Coffee Limited as a standalone entity has registered a record turnover, profit before tax and profit after tax. The performance of the instant coffee division has significantly improved with higher volume of production and sales compared to previous period.
The company’s stock closed at Rs 874.70 on BSE on Monday, showing a drop of 1.35 per cent over the previous close.