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Tata Coffee fiscal Q1 profit falls 27.9% YOY

Tata Coffee Ltd. said its normalized net income for the fiscal first quarter ended June 30 amounted to 1.44 Indian rupees per share, compared with the S&P Capital IQ consensus estimate of 1.50 rupees per share.

EPS decreased 27.9% year over year from 2.00 rupees.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 269.3 million rupees, a decline of 27.9% from 373.8 million rupees in the year-earlier period.

The normalized profit margin dropped to 7.5% from 9.2% in the year-earlier period.

Total revenue decreased 12.1% on an annual basis to 3.57 billion rupees from 4.07 billion rupees, and total operating expenses decreased 7.8% from the prior-year period to 2.90 billion rupees from 3.14 billion rupees.

Reported net income fell 24.9% from the prior-year period to 303.1 million rupees, or 1.62 rupees per share, from 403.8 million rupees, or 2.16 rupees per share.

As of July 22, US$1 was equivalent to 60.17 Indian rupees.