Tata Coffee consolidated Q3 net profit declines 45% to Rs 38 crore
Tata Coffee on Tuesday reported a 44.71 per cent decline in consolidated net profit during the December quarter at Rs 38.40 crore.
The consolidated net profit of Tata Coffee Ltd (TCL) stood at Rs 69.46 crore in the year-ago period, it said in a regulatory filing.
Consolidated total income for the quarter witnessed a 19.13 per cent growth during the October-December period at Rs 754.76 crore as compared to Rs 633.52 crore in the corresponding period previous year, driven by higher realisations in Eight O' Clock Coffee (EOC) and instant coffee businesses of the company.
The company, a subsidiary of Tata Consumer Products formerly known as Tata Global Beverages, stated that the improved price realisations driven by superior product mix in instant coffee business both in India and Vietnam has aided the company's quarter performance.
The operating performance of EOC business was impacted during the quarter under review by higher input and other costs, which are expected to ease over com