Tata Coffee Q1 net jumps over two-fold to Rs 64 crore

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Tata Coffee has reported a 135.57% increase in net profit for the quarter ended June 30, 2016, at Rs 64.1 crore compared with Rs 27.21 crore in the same quarter previous fiscal.

Total income from operations for the company, during the reported quarter grew 21.13% to Rs 426.15 crore compared with Rs 351.79 crore in Q1 of FY2016, the company said.

Commenting on the performance, Tata Coffee MD Sanjiv Sarin said, “The results for the quarter reflects result of our sustained effort on customer centricity with focus on premium products and strong servicing across all segments.”

The total income for the current quarter of Eight O’Clock Coffee Company, held through the company’s overseas subsidiary, Consolidated Coffee, is higher at $32.9 million compared with $28 million for the corresponding period of the previous quarter, Tata Coffee said.

Revenues for the company from its value added products business grew 26.44% to Rs 337.84 crore compared with Rs 267.18 crore in Q1 of FY2016. Revenues from plantations business during the quarter grew 4.12% to Rs 90.09 crore compared with  Rs 86.52 crore an year ago, the company said.

Value added products for the company includes production and sale of roasted and groud and instant coffee products while plantations includes cultivation, manufacture and sale of coffee and other plantation crops.