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Tata Coffee's Q1FY24 consolidated profit slightly lower at Rs. 62 crore due to subdued performance of the EOC business, despite higher total income.
BENGALURU (Reuters) - India's 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.