Tata Coffee's profits has gone up by 75.02 per cent at Rs 17.59 crore for the second-quarter ended September 30. Key reason is the instant coffee division contributing significantly with higher volume of production and sales.
The revenue for Q2 has also shown growth by 39.06 per cent at Rs 416.57 crore. Earnings per share (EPS) for the quarter stood at Rs 10.07 as compared to Rs 5.86 recorded same period last year.
According to a statement to the exchanges, the company said the performance of the instant coffee division has significantly improved with higher volume of production and sales compared to previous period.
The company also said profit before tax for the Q2 at Rs 23.04 crore registered a decrease of 27 per cent over the corresponding quarter of the previous year.
This is primarily due to the performance of Eight ‘O' Clock Coffee (EOC) in the current period which has been impacted on account of sharp escalation in the raw material cost.
Total income of EOC was $111.14 million as against $92.71 million of the pervious year.