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Tata Coffee profit misses consensus by 25.2% in fiscal Q2

Tata Coffee Ltd said its normalized net income for the fiscal second quarter ended Sept. 30 amounted to 1.31 Indian rupees per share, compared with the S&P Capital IQ consensus estimate of 1.75 rupees per share.

EPS declined 11.6% year over year from 1.48 rupees.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 245.2 million rupees, a decrease of 11.4% from 276.6 million rupees in the prior-year period.

The normalized profit margin fell to 5.6% from 6.8% in the year-earlier period.

Total revenue increased 8.2% on an annual basis to 4.39 billion rupees from 4.06 billion rupees, and total operating expenses grew 16.4% year over year to 3.81 billion rupees from 3.27 billion rupees.

Reported net income declined 15.0% on an annual basis to 275.2 million rupees, or 1.47 rupees per share, from 323.6 million rupees, or 1.73 rupees per share.

As of Oct. 21, US$1 was equivalent to 65.20 Indian rupees.