Tata Coffee Ltd has registered a 10 per cent increase in its standalone net profit for the December quarter at Rs 23.66 crore, despite a flattish growth in its income. The company had reported a net profit of Rs 21.47 crore in December quarter last year.

Total income for the quarter was almost flat at Rs 154.29 crore against Rs 153.26 crore in the corresponding period last quarter.

The profit growth was aided by a jump in its other income and lower tax expense. Other income was up at Rs 18.44 crore during the quarter against Rs 2.60 crore in the corresponding period last quarter. Tax expense was marginally lower at Rs 9.82 crore against Rs 10.02 crore.

The company said business from value-added products segment grew on higher volumes. However, income and profitability from the plantation segment was impacted on account of lower plantation output caused by adverse weather and biennial nature of the crops.

For the nine-month period, the standalone net profit was down 38 per cent at Rs 57.90 crore against Rs 93.10 crore in the corresponding period last year. Total income was flat at Rs 497.94 crore against Rs 490.08 crore.

Tata Coffee shares had ended 1.8 per cent higher at Rs 102.25 on the BSE on Friday.

Consolidated results

On a consolidated basis, the company reported a 47 per cent drop in net profit at Rs 28.59 crore for the December quarter against Rs 53.78 crore in the corresponding period last quarter, impacted by higher tax expense. Consolidated income for the quarter was up 9 per cent at Rs 426.51 crore against Rs 391.93 crore.

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