Mumbai: Tata Coffee, a subsidiary of Tata Global Beverages and Asia’s largest integrated coffee company, has reported standalone total income of Rs 757 crore in April to March 2018-19 compared to Rs 762 crore in the previous financial year.
The profit after tax was Rs 72 crore against Rs 63 crore in the same period due to an improved plantation and instant coffee performance as well as on the sale of its non-core fixed assets.
For the quarter ended March 31, the company reported a total income at Rs 212 crore compared to Rs 207 crore from January to March 2018. Profit after tax was higher at Rs 12 crore compared to Rs 4 crore in the same period.
“The offtakes to Africa and European geographies continue to be strong and our focus on customer acquisition in new geographies has enabled a robust and healthy order book,” said Tata Coffee’s Managing Director Chacko Thomas.
“While volumes are high, the instant coffee business continues to be under margin pressure due to the current competitive scenario in the industry and hardening rupee,” he said.
On March 6, the company unveiled its first off-shore freeze-dried coffee production plant in Vietnam with a capacity of 5,000 million tonnes per annum.
Tata Coffee produces 8,000 to 10,000 million tonnes of shade-grown Arabica and Robusta coffees at 19 estates in south India. Its two instant coffee manufacturing facilities have a combined installed capacity of 8,400 million tonnes.
lt exports green coffee to 40 countries in Europe, Asia, the Middle East, and North America.
[source_without_link]ANI[/source_without_link]