Tata Coffee Q4 net dips

Tata Coffee reported a 12.5 per cent drop in net profit at Rs 25.2 crore for the fourth quarter ended March 31, compared to Rs 28.8 crore in the same period last year. The decline in net profit was taken into account after considering a minority interest of Rs 12.9 crore, against Rs 70 lakh in the year-ago period.

Total income from operations had increased 1.5 per cent to Rs 387.8 crore, against Rs 382 crore in the year-ago period. Operating profit increased 62.9 per cent to Rs 63.9 crore, against Rs 39.2 crore in the same period last year.

“We have done well in our Eight O Clock Coffee business compared to last year. Operations wise we have done well and our net profit has gone up 58 per cent to Rs 46.6 crore in the fourth quarter,” said M D Kumar, executive director-finance, Tata Coffee.

The company’s all divisions have done well during the quarter. The company has entered the fast growing single serve coffee segment in the US through its subsidiary Eight O Clock Coffee.  Its plantations business continues to show steady growth for the year, he said.

During the quarter, the company, in collaboration with Starbucks Coffee Company, commissioned a roasting and packaging plant at Kushalnagar in Kodagu district.