Coffee Service

Tata Coffee lifts Q1 2023 sales, earnings

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July 19, 2023

Tata Coffee, a subsidiary of Mumbai, India-based Tata Consumer Products Ltd., lifted its sales and profits for Q1 2023 over the prior year period driven by sales growth in its instant coffee and tea plantation businesses, according to a Reuters report.

Revenue from operation rose 6% to 7.01 billion rupees ($85 million) while net profit attributable to shareholders rose 5% to 474.8 million rupees ($5.8 million) in the quarter ended June 30.

Shares rose 1.2% in the comparative quarters.

Revenue from its value-added products rose 3%.

Tata Coffee is among several processors that noted in recent months that demand from offices, cafes and restaurants have recovered.

Tata Consumer Products Ltd. merged Tata Coffee with its main business last year as part of a reorganization to improve operating efficiencies.