Tata Coffee, a subsidiary of Tata Consumer Products, achieved a consolidated profit of Rs 48.8 crore in the January-March FY23 quarter, representing a growth of 19.7 percent compared to the same period last year, even though operating figures decreased.
The reason for the profitability was due to an increase in other income and a decrease in tax expenses.
In the corresponding period of the previous fiscal year, the consolidated revenue was Rs 723 crore, a growth of 10.2 percent.
According to Tata Coffee's filing to exchanges, the higher realizations in Eight O' Clock Coffee (EOC), instant coffee, and plantation coffee businesses led to the increased revenue. The company's quarterly performance was aided by superior product mix in instant coffee business both in India and Vietnam, which resulted in improved price realisations.
Tata Coffee is a subsidiary of Tata Consumer Products, and it is one of the largest integrated coffee cultivation and processing companies in the world. Headquartered in Bengaluru, India,
Tata Coffee has an extensive presence in South India with over 19 coffee estates in the Coorg, Chikmagalur, and Hassan districts of Karnataka, and the Valparai district of Tamil Nadu. The company produces a wide range of coffee products, including roasted and ground coffee, instant coffee, and specialty coffee, which are sold across the globe.
In addition to coffee, Tata Coffee also produces tea, pepper, and other spices. The company is committed to sustainability and social responsibility and works closely with local communities to promote economic and social development in the regions where it operates.