Financial Daily from THE HINDU group of publications
Friday, Jul 22, 2005
Financial Daily from THE HINDU group of publications Friday, Jul 22, 2005 |
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Corporate Results
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Coffee Tata Coffee Q1 net up 126% at Rs 2.73 cr Our Bureau
Bangalore , July 21 TATA Coffee has reported a 126 per cent rise in its net profit while its revenue has dropped 32 per cent for the quarter ending June in the current fiscal over the corresponding quarter last year. Tata Coffee reported a net profit of Rs 2.73 crore (Rs 1.21 crore) on revenues of Rs 27.03 (Rs 39.76 crore) crore. The company attributed the drop in turnover to the lower volumes of coffee sales during the quarter. The company expects that coffee sales will be recouped in the coming months. Tata Coffee recently said that it was acquiring five tea estates and one coffee estate spread across 4,300 hectares from Tata Tea for a consideration of Rs 55 crore. These estates located in Kerala and Tamil Nadu produce some six million kg of tea and about 500 tonnes of coffee annually.
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