Tata Coffee Limited, a subsidiary of Tata Global Beverages announced its results for the quarter ended September 30, 2012, yesterday. It reported significant increase in turnover and net profit across all businesses of the company.
The operating income Y-o-Y basis was up 28 per cent at Rs.321.79 crore from 251.82 crores of previous year. The Profit After Tax (PAT) for the same period grew by 65 per cent to Rs.52.26 crore as against Rs.31.73 crore during the same period of last year.
The improved result is from instant coffee operation,
which continues to show a substantial growth, as also better operating result from coffee plantations coupled with a favourable foreign exchange on its exports.
The consolidated operating income rose by 19 per cent to Rs.891.43 crore from Rs.751.24 crore of previous year. The Profit After Tax (PAT) grew by 111 per cent at Rs 65.02 crore for the period compared to Rs.30.84 crore of corresponding period in the previous year. Eight o’ clock coffee has reflected a major turnaround in its performance compared to the previous year. This is in spite of major competitive pressures in the market place. The improved performance is attributed to superior operating efficiencies in production and coffee procurement.