 "Tata Coffee down 7% on disappointing Q4 results")
Tata Coffee dipped 7% to Rs 124 on the BSE after the company reported a sharp 63% year on year (y-o-y) decline in its consolidated net profit at Rs 224 million in March quarter. It had profit of Rs 598 million in a year ago quarter.
Revenue from operations during the quarter grew 9% to Rs 4.4 billion against Rs 4.03 billion in the corresponding quarter of previous fiscal.
Tata Coffee’s standalone total income declined to Rs 2.07 billion from Rs 2.18 billion, primarily due to lower rupee realizations and lower than estimated coffee and tea crop output.
The operating profits were impacted due to soft terminals across all products and lower production of Robusta Corp which got impacted by an unseasonal rain pattern last year, it added. Instant coffee saw a volume decline due to a specific customer which impacted performance.
Tata Coffee is a subsidiary of Tata Global Beverages. It is Asia's largest integrated coffee company, the second largest exporter of instant coffee, and major producer of speciality coffee in India.
Revenue from operations during the quarter grew 9% to Rs 4.4 billion against Rs 4.03 billion in the corresponding quarter of previous fiscal.
Tata Coffee’s standalone total income declined to Rs 2.07 billion from Rs 2.18 billion, primarily due to lower rupee realizations and lower than estimated coffee and tea crop output.
The operating profits were impacted due to soft terminals across all products and lower production of Robusta Corp which got impacted by an unseasonal rain pattern last year, it added. Instant coffee saw a volume decline due to a specific customer which impacted performance.
Tata Coffee is a subsidiary of Tata Global Beverages. It is Asia's largest integrated coffee company, the second largest exporter of instant coffee, and major producer of speciality coffee in India.
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