Tata Coffee jumped 4.31 per cent to Rs 204.60 after the company reported a net profit of Rs 147 crore in the second quarter of FY23 compared with a net profit of Rs 54 crore recorded in the second quarter of FY22.

Total income for the quarter was at Rs 723 crore compared to Rs 554 crore for Q2FY22, an increase of 30 per cent driven by higher realisations in all company businesses.

In the Extractions business, overall revenue growth was around 26 per cent, whereas, in the Plantations business, the revenue growth was around 77 per cent. Higher input costs impacted the Eight’O Clock Coffee business operating performance during the quarter.

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On a standalone basis, total income in the second quarter of FY23 was at Rs 273 crore as compared to Rs 199 crore for the second quarter of the last year, with an increase of 37 per cent, on increased revenues from Instant Coffee and Plantations were driven by improved quantities sold and realisations.

Chacko P Thomas, Managing Director, Tata Coffee, said, “The performance of our Instant Coffee business continues to be strong. With a healthy order pipeline, Tata Coffee’s Vietnam operations continued to be robust.”

Tata Global Beverages, now known as Tata Coffee, is a subsidiary of Tata Consumer Products. The world’s largest integrated coffee Company, Instant Coffee, is the second-largest exporter and foremost producer of Specialty Coffee in India.