Tata Coffee Limited on Monday announced its results for the first quarter, in which the company registered a four percent increase in its total income as compared to the corresponding quarter of previous year.
The increase in total income was driven by improved performance of its plantation business.
The company has also registered a nine percent growth in its operating profits this quarter.
The company has also recorded an increase of seven percent in its profit before tax and seven percent increase in its net profit for the quarter. The net profit stood at Rs. 20 crores as compared to Rs.18.74 crores for the corresponding quarter of previous year.
It also reported an increase of six percent in its Consolidated Total Income from operations for the quarter compared to corresponding quarter of previous year.
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The company's US operating subsidiary, Eight O' Clock Coffee (EOC), has recorded a Total Income of 34.9 Million dollars as compared to 34.50 Million dollars for the corresponding quarter of the previous year.
The Consolidated Profit from Operations stood at Rs. 51.00 crores as compared to Rs. 67.72 crores in the previous year, primarily due to impact of higher raw material costs in the EOC business.
The Group Consolidated Net Profit stood at Rs. 25.40 crores compared to Rs.30.31 crores in the corresponding quarter of previous year.
