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Oct 29, 1999
Consolidated Coffee: extraordinary charge mars gains in 2QFY2000
Tata Tea subsidiary, Consolidated Coffee has recorded an impressive operating performance in the 2QFY2000. Net profit is up 116% to Rs 84 m and turnover has zoomed by 74% to Rs 663 m.
The company's actual net profit is up only 22% to Rs 48 m, because of an extraordinary provision of Rs 37 m towards diminution in value of
investments. As such the net profit margin has actually gone down to 7.2% compared to 10.2% in the corresponding period in the previous period.
|
(Rs m) |
2QFY2000 |
2QFY1999 |
|
|
Net Sales |
663 |
382 |
73.6% |
|
Other Income |
3 |
2 |
53.6% |
|
Expenditure |
549 |
305 |
79.6% |
|
Interest |
12 |
13 |
-11.6% |
|
Depreciation |
12 |
8 |
54.9% |
|
Profit before Tax |
93 |
57 |
62.9% |
|
Tax |
9 |
18 |
-50.3% |
|
Profit after Tax |
84 |
39 |
115.6% |
|
Net profit margin |
12.7% |
10.2% |
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