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Tata Coffee fiscal Q3 profit climbs 45.5% YOY

Tata Coffee Ltd said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, came to 1.60 Indian rupees per share, an increase of 45.5% from 1.10 rupees per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 299.1 million rupees, an increase of 45.5% from 205.5 million rupees in the prior-year period.

The normalized profit margin rose to 6.5% from 5.1% in the year-earlier period.

Total revenue grew 13.9% year over year to 4.59 billion rupees from 4.03 billion rupees, and total operating expenses climbed 11.0% on an annual basis to 3.83 billion rupees from 3.46 billion rupees.

Reported net income rose 66.4% from the prior-year period to 304.5 million rupees, or 1.63 rupees per share, from 183.0 million rupees, or 98 paise per share.

As of Jan. 27, US$1 was equivalent to 68.10 Indian rupees.