Tata Coffee reported a 64 per cent drop in standalone net profits for the September quarter at Rs 15.50 crore on flattish income and higher expenses. The company reported sales of Rs 175.58 crore for the period.
In the corresponding quarter last year, Tata Coffee reported a net profit of Rs 43.25 crore on an income of Rs 175.81 crore.
Tata Coffee shares ended 3.06 per cent higher at Rs 937.30 on the BSE on Tuesday.
The company said that its value added products segment grew 13 per cent compared to last year, while income and profitability in the plantation segment were impacted on lower coffee output caused by adverse weather and off year conditions.
On a consolidated basis, Tata Coffee reported a net profit of Rs 32.36 crore on income of Rs 440.41 crore. In the corresponding quarter last year, the company had reported a loss of Rs 12.88 crore on income of Rs 469.50 crore.