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Tata Coffee Q3 PAT Slips to Rs 27 Crore

Picture Source: Internet

On a consolidated basis, Tata Coffee’s net profit tumbled 39.85% to Rs 26.63 crore in the October-December quarter of FY23 from Rs 44.27 crore reported in the October-December quarter of FY22.

Revenue from operations stood at Rs 746.66 crore in the October-December quarter of FY23, registering a growth of 19.26% against Rs 626.07 crore posted in the October-December quarter of FY22.

The group’s consolidated net profit fell 44.72% to Rs 38.40 crore in the October-December quarter FY23 from Rs 69.46 crore in the October-December quarter FY22. The decline was primarily due to lower margins for Eight O’Coffee.

Profit before exceptional items dropped 37.36% to Rs 57.73 crore in the October-December quarter of FY23 from Rs 92.16 crore reported in FY22.

Tata Coffee’s Vietnam business continued to deliver solid sales and improved profitability driven by higher volumes of premium products. It has a healthy order pipeline.

While revenue in Q3FY23 rose 23.86% to Rs 273.04 crore from Q3FY22, the company’s net profit fell 6.83% to Rs 26.61 crore on a standalone basis.

Total income in Q3FY23 stood at Rs 295.46 crore, registering a growth of 23.44% YoY on the back of increased revenues from Instant Coffee and Plantation businesses (mainly Tea). 

Instant Coffee’s profitability for Q3FY23 was higher because of a favourable sales mix despite flat volumes.

Tata Coffee is a subsidiary of Tata Consumer Products, formerly known as Tata Global Beverages. It is the largest integrated coffee company in Asia, the second-largest instant coffee exporter and India’s leading speciality coffee producer.

On BSE, Tata Coffee’s shares fell 0.05% to Rs 215.20.

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