Business: Tata Coffee's third quarter net profit increased to Rs 69.46 crore

Tata Coffee Ltd Managing Director Chacko P Thomas said that despite challenging conditions of unprecedented freight cost increases and inflationary pressures on input costs, including power and packing material, “our overall performance has improved”. The performance of India Instant Coffee has been robust and the company has seen stable performances across key geographies, he said.

On the back of high revenues, Tata Coffee Ltd reported a 38.42 percent increase in consolidated net profit to Rs 69.46 crore in the three months ended December 2021. According to a BSE filing, the company made a net profit of Rs 50.18 crore in the same quarter of the previous financial year. In the third quarter of this fiscal year, net revenue climbed 17.51 percent to Rs 626.07 crore on a consolidated basis. The same figure stood at Rs 532.76 crore a year ago. The company’s expenses increased to Rs 541.36 crore from Rs 470.21 crore in the previous quarter.

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According to him, the company’s Vietnam operations continue to be healthy despite higher sea freight costs and the order pipeline continues to be encouraging. Also, the company’s plantation business performance of coffee and pepper have been good. Subsidiary firm Eight O’Clock Coffee, during the latest December quarter, recorded improved performance on account of better realisations and favourable channel mix, he added.

Tata Coffee Ltd, a subsidiary of Tata Consumer Products Ltd, is Asia’s largest integrated coffee company and the second largest exporter of Instant Coffee and foremost producer of Specialty coffee in India. The company produces between 8,000-10,000 tonnes of shade grown Arabica and Robusta Coffee at its 19 estates in South India. It exports Green Coffee to countries in Europe, Asia, Middle East and North America. The company is also the largest corporate producer of pepper in India.

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