Tata Coffee Limited announces results for Q3, FY 2013-14
Tata Coffee Limited announced its results for the quarter ended Dec 31, 2013. The Group Consolidated Net Profit was Rs.38 crores as against Rs.26 crores during the same period last year.
Quarterly highlights, Q3 2013-14
Standalone: Total Income from Operations for the quarter ended December 31, 2013 stands at Rs 153 crores as against Rs 152 crores of the corresponding quarter of the Previous Year.
The Profit After Tax stands at Rs 21 crores, compared to Rs 29 crores in the corresponding period of the previous year. The Plantation products of Coffee and Pepper continued its good performance. There has been a marked swing in the traditional market of the Company’s Instant Coffee products. During the last six months the Company has developed alternate markets in new geographies outside India. These markets are being serviced from the expanded capacity at our Theni unit and from the newly commissioned packaging plant.
- The company's 2000 MT Freeze Dried Coffee (FDC) Premium Extraction Plant is operating at its rated capacity. This premium product is targeted at high value markets and initial market response continues to be favorable. This coupled with the new Packaging facility augurs well for this operation & will cater to the varying customer needs across recently developed markets.
- The Company's focus on high value Specialty coffee has partly neutralized the fall in both the Robusta and Arabica prices. The pepper operations have generated substantial margins, underlining the strength of Tata Coffee of being a multi product Plantation Company. The company continues to focus on developmental initiatives in Arabica, Robusta, Tea and Pepper to enhance sustainability of operations.
Consolidated: The Consolidated Net Profit for the quarter stands at Rs 38 crores compared to Rs 26 crores during the same period last year.
About Tata Coffee
- The results of this quarter reflect significant investment in re-launching the Eight O' Clock brand in the US to further strengthen and revitalize its appeal. Entry into the fast growing single serve market in the US during the previous year has led to widening the reach of the brand and an upswing in sales & royalties compared to last year.
- The single serve coffee pods market is seeing rapid growth in the US. Eight O' Clock has licensed the EOC brand trademark to Green Mountain Coffee Roasters (Keurig), leaders in single serve brewing systems in the USA. Sales and royalties arising from this arrangement have led to substantial growth & a sizeable presence in fast growing Single Serve Market.
Tata Coffee is a subsidiary of Tata Global Beverages. It is Asia’s largest coffee plantation company and the 3rd largest exporter of instant coffee in the country. The Company produces more than 10,000 MT 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 8400 metric tonnes. It exports green coffee to countries in Europe, Asia, Middle East and North America. Tata Coffee’s farms are triple certified: Utz, Rainforest Alliance and SA8000 reinforcing its commitment to the people and the environment.