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Strong sales and a strengthening dollar has more than doubled Tata Coffee’s net profit to Rs 31.84 crore (consolidated) for the first quarter of the current fiscal. The company’s revenues grew nearly 24 per cent to Rs 413.73 crore for the same period. EPS in the first quarter doubled to Rs 15.09 compared with the same period last year.
Mr Hameed Huq, Managing Director, said the instant coffee as well as the plantation divisions performed exceedingly well during the quarter. During the quarter, US subsidiary, Eight O Clock Coffee’s (EOC) profit was up seven times at $1.43 million. The company’s income grew marginally to $49.33 million.
Tata Coffee shares ended at Rs 946.30 per share, down 0.72 per cent on the BSE.
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