Tata Coffee net soars 44%

Bangalore-based Tata Coffee has reported 44.27 per cent higher profits at Rs 17.40 crore for second quarter (Q2) ended September 30, 2008, compared with the corresponding period last year. Its profits were driven by higher instant coffee volumes, improved tea and coffee realisation for the second successive quarter.

Total income grew by 24.16 per cent to Rs 298.61 crore as against Rs 240.49 crore registered in the corresponding previous period. Profit before tax (PBT) was up 46.77 per cent at Rs 25.95 crore in the quarter. EPS stood at Rs 6.71.

The company’s profits in first half (H1) of FY09 were up 32.53 per cent at Rs 26.72 crore. Revenues were also up 21.58 per cent at Rs 561.42 crore in the period.

 

Profits of Eight O Clock Coffee Co, a subsidiary with 51 per cent stake with Tata Coffee, were down by 12.99 per cent at $3.28 million in the first half as against $3.77 million after bearing the launch-related cost of ‘Good Earth Coffee’.