New Delhi: Tata Coffee on Friday, reported an over two-fold rise in its consolidated net profit at Rs 39.42 crore for the fourth quarter ended March 31, on account of higher sales volume.
The company had clocked a net profit of Rs 16.32 crore in the same quarter in 2013-14.
Total income during the January-March quarter of 2014-15 increased to Rs 450 crore from Rs 397 crore in the same period in 2013-14 fiscal, the company said in a BSE filing.
"The primary reason for the above growth in profits was superior performance in the Coffee Plantation business and in Value added products driven by the results of the company's US operating subsidiary, Eight O'Clock Coffee," Tata
Coffee Executive Director- Finance and CFO K Venkataramanan said.
The total Income for the quarter, for Eight O' Clock Coffee, stood at USD 40 million compared to USD 36 million for the corresponding quarter of the previous year, Venkataramanan added.
For the entire 2014-15 fiscal, company's consolidated profits increased to Rs 120 crore compared to Rs 81 crore in the preceding year.
Tata Coffee, a subsidiary of Tata Global Beverages, is Asia's largest integrated coffee company and the 3rd largest exporter of instant coffee.
The company produces more than 10,000 tonnes of shade grown Arabica and Robusta coffees at its 19 estates in South India and its two Instant Coffee manufacturing facilities have a combined installed capacity of 8,400 tonnes.
