New Delhi: Tata Coffee posted 12.55 % fall in consolidated net profit to Rs 34.47 crore in fourth quarter of the 2015-16 fiscal due to higher expenses.
The company had reported a net profit of Rs 39.42 crore in the same quarter previous year, Tata Coffee said in its regulatory filing. The net profit took a beating as the company’s expenses rose by 6.47 % to Rs 388.98 crore in the January-March quarter of the 2015-16 financial year from Rs 365.34 crore in the year-ago period. However, the company’s total income rose slightly to Rs 456.54 crore from Rs 451.51 crore in the said period. For the full fiscal year 2015-16 too, Tata Coffee reported a fall in consolidated net profit by 2.11 % to Rs 117.84 crore. While the company’s overall income increased marginally to Rs 1,764.45 crore, expenses remained higher at Rs 1,512.33 crore. Tata Coffee said its Board has recommended a dividend of Rs 1.30 per share.
