Conference Call with Tata Coffee Management and Analysts on Q2FY23 Performance and Outlook. Listen to the full earnings transcript.
Tata Coffee announced Q2FY23 results: Consolidated: Consolidated Total Income for the quarter was higher at Rs.723 crore compared to Rs.554 crore for the corresponding quarter of the previous year, an increase of 30%. The overall revenue growth in the extractions business was around 26%. The overall revenue growth in the plantation business was around 77%. The Group's Consolidated Profit for Q2FY23 is higher at Rs.147 crore compared to Rs.54 crore for the corresponding quarter of the previous year. Standalone: Total Income higher at Rs.273 crore compared to Rs.199 crore for the corresponding quarter of the previous year, representing an increase of 37%, on increased revenues from Instant Coffee and Plantations The above Total Income includes Dividend of Rs.8 crore received from Overseas Subsidiary. Mr. Chacko P Thomas, Managing Director, Tata Coffee Limited, said "The performance of our Instant Coffee business continues to be strong. Tata Coffee's Vietnam operations continued to be robust with a healthy order pipeline. Our Plantation performance overall has also been strong, aided by improved realisations and volumes. There is however continuing inflationary pressure on costs. Our Subsidiary, Eight O'clock Coffee [EOC] has registered higher revenues, though the profitability for the quarter has been impacted due to higher coffee input costs and lag in pricing recovery from the market which is expected to improve in the ensuing quarters." Result PDF