OREANDA-NEWS. Tata Coffee announced its results for the quarter ended June 30, 2013. On consolidated performance, the company has reported 43 percent rise in its net profit (PAT) at Rs40 crore for the quarter ended June 30, 2013 as compared to Rs28 crore for the same quarter in the previous year. Total income from operations has increased marginally to Rs418 crore for Q1 as compared to Rs414 crore for the quarter ended June 30, 2012.

Quarterly highlights, Q1 2013-14

Consolidated: Total income from operations for the quarter stands at Rs418 crore

The company’s profit from operations stands at Rs92 crore as against Rs59 crore during the same period last year, registering a growth of 56 percent

Group consolidated net profit post minority interest and share of profit from associates grew by 43 percent to Rs40 crore compared to Rs28 crore in the corresponding period last year.

The company’s US subsidiary, Eight O’ Clock Coffee, continues to perform well

Standalone: Total income from operations for the quarter stands at Rs161 crore as against Rs152 crore for the quarter ended June 30, 2012.

The profit from operations for the quarter grew by 15 percent to Rs39 crore compared to Rs34 crore during the same period last year

The profit before tax stands at Rs42 crore as against Rs35 crore during the same period last year, registering a growth of 20 percent

The profit after tax stands at Rs28 crore, an increase by 16 percent compared to Rs24 crore in the corresponding period of the previous year

The instant coffee business saw improvement during the quarter. The company commissioned a 2000 MT Freeze Dried Coffee (FDC) premium extraction plant at its instant coffee manufacturing facility in Theni, Tamil Nadu, during the quarter.

Commenting on the overall performance, Hameed Huq, managing director, Tata Coffee, said, “Tata Coffee has recorded an impressive performance in its revenues and profits this quarter. Our instant coffee business has reported significant improvement this quarter due to better capacity utilisation and market expansion. We are happy to report the commissioning of the premium extraction unit in Theni. Our plantations business and US subsidiary Eight O’ Clock Coffee continue to show steady growth.”