May 8: Tata Coffee Ltd (BSE:532301, NSE:TATACOFFEE) has reported lower revenues and profits for FY18 on lower production of robusta coffee and fall in pepper prices.
Total income from operations was Rs 762 cr compared to Rs 848 cr the previous year, while revenues from alue added business fell to Rs 416 cr from Rs 468 cr. The sales volumes were impacted due to underperformance of one key customer in the first half of the year. Operating profits fell to Rs 51 cr from Rs 86 cr.
Plantation business revenue fell from Rs 335 cr to Rs 310 cr. Pepper prices fell despite the imposition of minimum import prices. For the Q4FY18 quarter income fell to Rs 2017 crore compared to Rs 218 crores a year ago.
Tata Coffee shares have fallen 6% to Rs 125.60 in morning trade on Tuesday.