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Tata Coffee spurts after Q4 PAT soars 139% to Rs 57 cr


Tata Coffee rallied 4.42% to Rs 133.50 after the company s 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 group s value- added businesses, which had a marginal decline due to the pandemic induced logistics issues as well as muted demand in specific geographies.
Good operating performance from Eight O Clock Coffee [EOC] driven by higher sales realisations and favourable channel mix. Tata Coffee Vietnam operations continue to improve with robust sales to key customers and healthy order pipeline. ....

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Tata Consumer Products divests its stake in JVs Empirical Group and Southern Tea


Tata Consumer Products announced that the overseas step-down subsidiaries of TCPL in the USA have entered into an arrangement for the sale of its entire membership interest held in Empirical Group LLC (Empirical) and in Southern Tea, LLC (Southern Tea) to its Joint Venture Partner - Harris Tea Company LLC on 31 March 2021.
Empirical is engaged in the sale of tea and coffee for food services and contract customers and Southern Tea is a manufacturing entity managed by Harris Tea Company LLC, JV partner.
This move is in line with TCPL s focus on its core branded businesses in International markets.
It will help further simplify and streamline the Company s operations to enhance business effectiveness and profitability. Following this transaction, Southern Tea will continue to manufacture for Tetley and Good Earth brands. ....

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Tata Consumer divests stake in Emprical Group, Southern Tea


Tata Consumer Products (TCPL) said its step-down subsidiaries in the USA have decided to divest their entire membership interest in Empirical Group and Southern Tea to the joint venture partner, Harris Tea Company, USA.
Empirical Group is engaged in the business of selling primarily white label tea and coffee in the foodservice channel and to contract customers. Southern Tea is a manufacturing entity acting as a supplier to Harris Tea and TCPL (Empirical, Tetley and Good Earth brands).
This move is in line with TCPL s focus on its core branded businesses in International markets. It will help further simplify and streamline the Company s operations to enhance business effectiveness and profitability. Following this transaction, Southern Tea will continue to manufacture for Tetley and Good Earth brands. ....

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