Tata Coffee Q1 results: Total income grows 6% in Q1FY24, driven by strong performance in Vietnam and India
Tata Coffee 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.
Tata Coffee's Vietnam operations performed well, showing strong sales and improved profitability, supported by increased sales of premium products. The company also has a healthy order pipeline.
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, 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, primarily due to the subdued performance of the EOC business.
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