Financial Daily from THE HINDU group of publications
Saturday, Oct 22, 2005
Financial Daily from THE HINDU group of publications Saturday, Oct 22, 2005 |
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Corporate Results
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Coffee Agri-Biz & Commodities - Financial Performance Tata Coffee Q2 net up 136 pc Our Bureau
Bangalore , Oct 21 TATA Coffee has reported a 136 per cent rise in net profit for the quarter ended September 2005 at Rs 6.62 crore on revenues of Rs 53.41 crore, compared to a net of Rs 2.80 crore on revenues of Rs 51.32 crore in the corresponding previous period. "Improved pricing and increased sales helped the company post better results during the quarter," said Mr M. H. Ashraff, Managing Director. The company made up for the shortfall in instant coffee sales to some extent during the quarter, he added. "The outlook is good," Mr Ashraff said, adding that coffee prices are expected to stay firm in the near term mainly due to the impact of gloomy weather conditions in Central America. During the quarter, Tata Coffee entered into an agreement with a German company for supply, installation, and commissioning of a 2,000-tonne freeze-dried coffee plant at Theni in Tamil Nadu.
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