Tata Coffee Ltd posted a nearly 20 percent increase in its fourth-quarter profits on Tuesday, citing higher demand for hot beverages as a contributing factor in the sales growth of the coffee company.
In recent months, multiple coffee processors, such as Tata Coffee, have reported a rebound in demand from restaurants, cafes, and offices, as people begin to venture out more often.
The company, which exports to more than 40 countries, reported an approximately 11 percent rise in revenue from its value-added products business, amounting to INR 6.24 billion (USD 76.1 million). The unit encompasses the production and sale of roasted and ground coffee, as well as instant coffee products.
The company’s overall revenue from operations increased by 10.2 percent to INR 7.23 billion from INR 6.56 billion in the previous year. Additionally, the net profit rose to INR 488 million.
The company’s shares, which also provide supplies to Tata Starbucks outlets in India, closed 0.5 percent higher on Tuesday, reducing their decline to approximately 5 percent for the year.
