By BS Reporter
Tata Coffee, a subsidiary of Tata Global Beverages, reported a 21 per cent rise in consolidated net profit at Rs 26 crore for the third quarter ended December 31, compared with Rs 21.5 crore in the corresponding quarter last year.
Total income from operations on a year on year basis remained flat at Rs 418 crore as against Rs 416 crore. The profit from operations for the quarter at Rs 74 crore was up 65 per cent on year on year basis.
"Our instant coffee operations registered a major gain, as also the performance of the plantations. Eight O Clock Coffee performance continues to show an upswing. All our business divisions have shown good improvement. We maintained instant coffee volumes and protected our margins despite decline in Arabica prices. Pepper and tea have contributed significantly to our topline during the quarter," Hameed Huq, managing director, Tata Coffee said.
The company produces more than 10,000 metric tons of shade grown Arabica and Robusta coffees at its 19 estates in South India and its two instant coffee manufacturing facilities have a combined installed capacity of 6,000 metric tons. It exported 1,800 tonnes of instant coffee and 1,800 tonnes of plantation coffee (green coffee) during the third quarter.