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Tata Coffees Q1FY24 consolidated profit slightly lower at Rs. 62 crore due to subdued performance of the EOC business, despite higher total income.

BENGALURU (Reuters) - Indias Tata Coffee reported a more-than-5% rise in its first-quarter profit on Wednesday as net sales in its tea plantation and instant coffee businesses improved.

The instant coffee business comprising both India and Vietnam improved its revenue by 18 percent compared to the corresponding quarter of the previous year

The operating performance of EOC business was impacted during the quarter under review by higher input and other costs, which are expected to ease over coming quarters, it said.Tata Coffees Vietnam operations continue to deliver robust sales with improved profitability driven by higher sales of premium products, it said.The performance of our instant coffee business continues to be robust.

Get latest articles and stories on Latest News at LatestLY. Tata Coffee (TCL) on Tuesday reported a 12.04 per cent growth in its consolidated profit to Rs 64.28 crore during the quarter ended March. Latest News | Tata Coffee Q4 Profit Up 12 Pc to Rs 64.28 Crore.

Instant Coffee business registered strong performance with substantially higher export volumes and turnover.

The company reported a net profit of Rs 53.66 crore for the quarter ended September 2021 compared with a profit of Rs 42.40 crore in the year-ago period.

On April 29, 2021, the company reported a consolidated net profit of Rs 57 crore for Q4 FY21 compared to Rs 24 crore for the corresponding quarter of the previous year, an increase of 139 per cent.

Tata Coffee rallied 4.42% to Rs 133.50 after the companys consolidated net profit soared 138.5% to Rs 57.37 crore on 14.4% jump in net sales to Rs 591.23 crore in Q4 FY21 over Q4 FY20. Consolidated total income for the quarter stood higher at Rs 612 crore as compared to Rs 523 crore for the corresponding quarter of the previous year, registering an increase of 17% Y-o-Y (year-on-year), driven by improved performance from the plantations business partly offset by the groups value- added business...

Shares of Tata Coffee rallied over 9 per cent in Fridays session to hit a 52-week high of Rs 139.70 on the BSE after the company posted a strong set of results for the quarter ended March 2021. The company on Thursday posted a more than two-fold jump in consolidated net profit at Rs 57.37 crore for the fourth quarter of 2020-21 fiscal on strong income, as against a net profit of Rs 24.05 crore in the same quarter of the previous fiscal. Net income during the quarter under review rose by 17 p...