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Tata Coffee has reported a 16 per cent decline in consolidated net profit at ₹25.40 crore for the first quarter ended June 2015 against ₹30.31 crore in the corresponding quarter earlier.
Total revenues were up 6 per cent at ₹396.04 crore (₹374.52 crore). The company said that profit was impacted adversely on account of higher raw material costs.
Key driver of strategyCommenting on the company’s performance, Sanjiv Sarin, Managing Director, said: “The company’s focus on value-addition and growth of premium differentiated coffees continue to remain a key driver of our strategy. Our premium value propositions provide us insulation from commodity price volatilities.”
US subsidiaryThe company’s US operating subsidiary Eight O’ Clock Coffee (EOC) has recorded a total income of $34.9 million against $34.50 million for the corresponding quarter of the previous year.
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