The financial results for the quarter ending June 30, 2023 of Tata Coffee Limited (TCL) have been disclosed. Tata Coffee has reported higher consolidated total income of Rs. 708 crore for the quarter, a 6% increase compared to the corresponding quarter of the previous year.
This growth was driven by higher realizations in both the Plantation Coffee and Instant Coffee businesses in India and Vietnam. The company also has a healthy order pipeline. Tata Coffee’s Vietnam operations have performed well, showing strong sales and improved profitability, and increase in sales of premium products.
However, the operating performance of the EOC business was impacted during the quarter due to lower bag volumes and higher input costs.
As a result, due to the subdued performance of the EOC business, the group’s consolidated profit for Q1FY24 was marginally lower at Rs. 62 crore compared to Rs. 65 crore in the corresponding quarter of the previous financial year.
