Tata Coffee Q2 net profit at Rs 32.36 crore

Tata Coffee today reported a consolidated net profit of Rs 32.36 crore for the second quarter ended September 30, on account of better performance by the company's US subsidiary.
The company had posted a net loss of Rs 12.88 crore in the same period last year.
The consolidated income from operations of the company during July-September quarter of current fiscal decreased to Rs 440.41 crore from Rs 469.50 crore in the year-ago period.
Speaking about the company's quarterly earnings, Tata Coffee's Executive Director - Finance M Deepak Kumar said, "The primary reason for the above growth in profits was superior performance and results of the company's US operating subsidiary, Eight O'Clock Coffee."

During the quarter under preview, Eight O'Clock Coffee reported net profit of Rs USD 5.57 million as against net loss of USD 13.2 million in the same quarter year ago period, Kumar said.
"The performance of Eight O'Clock Coffee showed an upswing in market shares versus competition. In particular, the brand continued to strengthen its presence in the growing single serve segment," he added.

Tata Coffee, a subsidiary of Tata Global Beverages, is one of the asia's largest integrated coffee company. The company produces more than 10,000 tonnes of shade grown arabica and robusta coffees at its 19 estates in South India.

The company's two instant coffee manufacturing facilities have a combined installed capacity of 8,400 tonnes.
It exports green coffee to countries in Europe, Asia, Middle East and North America.