On April 29, Tata Coffee announced a strong collection of results for the quarter ended March 2021, with its consolidated net profit more than doubling to Rs 57.37 crore, thanks to strong sales.
Tata Coffee’s stock continued its upward trend on Thursday, rising 4% to an all-time high of Rs 185.80 on the BSE in an otherwise volatile market. The Tata Group Company’s stock has exceeded its previous high of Rs 183.45, which it reached on November 29, 2017. Tata Coffee has outperformed the industry by 60 percent in the last month, compared to a 4.5 percent increase in the S&P BSE Sensex.
On April 29, Tata Coffee had reported a strong collection of results for the quarter ended March 2021, with its consolidated net profit more than doubling to Rs 57.37 crore, owing to strong revenues. In the same quarter of the previous year, it made a net profit of Rs 24.05 crore.
Consolidated total income for the quarter increased by 17% to Rs 612 crore from Rs 523 crore in the previous quarter, owing to improved output from the Plantations sector partially offset by a slight decline in the Group’s value added businesses due to pandemic-related logistics issues as well as muted demand in specific geographies.
The strong operational output of Eight O’Clock Coffee [EOC] was attributed to higher sales realisations and a favourable channel mix, according to the management. Tata Coffee Vietnam’s operations are continuing to grow, according to management, with strong sales to key customers and a healthy order backlog.
Despite logistics problems and a new wave of lockdowns in Europe, the company’s India Instant Coffee exports for the quarter were higher, and are expected to ease in the near future. However, the company expects a short-term slowdown in demand in some geographies, especially in out-of-home consumption, due to the Covid-19 pandemic.
Tata Consumer Products, formerly known as Tata Global Beverages, owns Tata Coffee. It is Asia’s largest integrated coffee company, as well as India’s second-largest exporter of Instant Coffee and the leading producer of Specialty Coffee.
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Hello, my name is Anuj Boruah. I am quite interested in writing about current events in business, finance, and the economy. I work as a newswriter at Reviewminute.
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