INDIA – Tata reports 13% rise in second quarter net profit

MILAN – India\’s Tata Coffee Ltd., a unit of Tata Global Beverages Ltd., reported on Tuesday a nearly 13% rise in its second-quarter consolidated  net profit.
 
In the July-September period, profits increased to INR100.5 million (US$ 2.26 million) from INR89.2 million during the same period last year..
Consolidated revenue fell 5% to INR2.99 billion (US$ 67.29 million) from INR3.15 billion, while total costs declined 3.4% to INR2.55 billion, the company said.
 
Tata Coffee owns 19 coffee estates in the southern states of Karnataka and Tamil Nadu, and produces about 10,000 tons of coffee annually. Its instant coffee brands include International Tata Cafe, Mysore Gold and Tata Kaapi.