 "Tata Coffee consolidated net profit falls 62% to Rs 224 mn in March quarter")
Tata Coffee on Monday reported a 62 per cent fall in its consolidated net profit to Rs 224 million in the quarter ended March.
The company had clocked Rs 598 million net profit in the year-ago quarter, Tata Coffee said in a BSE filing.
However, its total income in the quarter under review rose by 10 per cent to Rs 4.48 billion compared to Rs 4.07 billion in the same period of 2016-17, it said.
During January-March of 2018, the company's expenses increased 36 per cent to Rs 4.27 billion from Rs 3.14 billion, it added.
In a separate filing, the company said that Board of Directors have approved the re-appointment of Chacko Purackal Thomas as Executive Director and Deputy CEO of the company for a period of 3 years.
"Based on the recommendation of the nomination and remuneration committee, the Board of Directors approved the re-appointment of Chacko Purackal Thomas as Executive Director & Deputy CEO of the company for a period of 3 years with effect from August 4, 2018," the company said.
Tata Coffee is a subsidiary of Tata Global Beverages. It is Asia's largest integrated coffee company, the second largest exporter of instant coffee, and major producer of speciality coffee in India.
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