Coffee Day Enterprises Ltd on Wednesday reported a 59.78 per cent fall in consolidated net profit at ₹23.83 crore for the September quarter due to higher expenses. The company had reported a net profit of ₹59.26 crore in the corresponding period of the previous fiscal.
Its total income grew to ₹1,015.13 crore during the quarter, up 12.42 per cent, as against ₹902.9 crore in the corresponding quarter of the year-ago period, Coffee Day Enterprises said in a BSE filing.
Expenses during the quarter stood at ₹1,014.99 crore, up 13.83 per cent, as against ₹891.6 crore a year ago.
The company said board of directors, at its meeting held on 14 November 2018, discussed the potential restructuring of the company’s business to segregate its coffee business and its subsidiaries from their non-coffee businesses (including integrated multi-nodal logistics, financial services, development and management of commercial space, hospitality services and investment operation).
“No decision to undertake any restructuring has been taken by the board at this stage,” it added.
Shares of Coffee Day Enterprises ended 2.73 per cent higher at ₹293.90 apiece on the BSE.