Tata Coffee rose 1.61% to Rs 78.80 after the company's consolidated net profit jumped 34.7% to Rs 24.05 crore on 12.2% rise in net sales to Rs 516.74 crore in Q4 March 2020 (Q4 FY20) from Rs 460.52 crore in Q4 March 2019 ( Q4 FY19).
The firm's plantation revenue has fallen 18.58% on a year-on-year (YoY) basis to Rs 66.94 crore in Q4 FY20. Its revenue from value added products, however, has has risen significantly by 19.37% on a YoY basis to Rs 456.26 crore during the same period.The company said that Eight O' Clock Coffee (EOC) reported higher profits due to improved volumes. Its Vietnam operations continue to improve with healthy sales to key customers and added that the order pipeline remains healthy.
While the company's total expenditure increased by 11% to Rs 441.11 crore, interest payments stood at Rs 15.38 crore (up 26.5%) and depreciation costs were at Rs 20.73 crore (up 41.5%) in Q4 FY20 over Q4 FY19.
Accordingly, profit before tax or PBT stood at Rs 46.24 crore in Q4 March 2020, up by 15.2% from Rs 40.14 crore in Q4 March 2019. Total tax expense has fallen marginally by 0.4% to Rs 22.19 crore in Q4 FY20 from Rs 22.28 crore in Q4 FY19.
Tata Coffee's consolidated net profit rose 31.9% to Rs 141.01 crore on a 9% increase in net sales to Rs 1966.06 crore in the full year ended on 31 March 2020 (FY20) as compared to the full year ended on 31 March 2019 (FY19).
PBT jumped 17.6% to Rs 200.07 crore in FY20 from Rs 170.09 crore in FY19.
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Commenting on the performance of the company and the Group, Chacko P. Thomas, managing director, Tata Coffee, said, Our Instant Coffee exports from India continue to be healthy, running to full capacities. We have seen good performances across key geographies. On Plantations, we have been impacted by lower crop due to adverse weather conditions and infestation of pests. Our Vietnam operations continue to grow stronger quarteron-quarter. The company had to briefly suspend its operations in India due to COVID-19 as per Government directives. The operations have since resumed and the units are functioning though with reduced capacities, with adequate safeguards keeping in mind the safety and health of our employees as well as our customers, which are of paramount importance. The company continues to monitor the evolving situation.
Tata Coffee, a subsidiary of Tata Consumer Products, formerly known as, Tata Global Beverages. It is Asia's largest integrated coffee company, the second largest exporter of instant coffee and foremost producer of specialty coffee in India. It is also the largest corporate producer of pepper in India.
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