Market Updates: On the back of high revenues, Tata Coffee Ltd reported a 38.42 percent increase in consolidated net profit for the three months ended December 2021 at 69.46 crore on January 28.
According to a Bombay Stock Exchange (BSE) filing, the company made a net profit of 50.18 crore in the same quarter of the previous financial year.
In the third quarter of this fiscal year, net sales climbed 17.51 percent to 626.07 crore on a consolidated basis. The figure was 532.76 crore in the previous year. The company's expenses increased to 541.36 crore from 470.21 crore during the same time.
Despite adverse conditions such as unprecedented freight cost hikes and inflationary pressures on input prices such as power and packing material, Tata Coffee Ltd Managing Director Chacko P Thomas stated that "our overall performance has improved."
China expresses concern over business environment in India
India is expected to increase infrastructure spending in its budget.
