Tata Coffee on Wednesday posted 51.67 per cent dip in net profit at Rs 24.03 crore for the quarter ended December 31, due to poor performance of one of its coffee brand - Eight O' Clock.
The company had a net profit of Rs 49.73 crore in the quarter ended December 31, 2010, Tata Coffee said in a filing to the BSE.
Tata Coffee said the decline in the profit is "due to the poor performance of the Eight 'O' Clock (EOC) in the current period which impacted on account of escalation of in the raw material cost."
During the quarter under review, the firm's total income was Rs 415.89 crore, up 18.74 per cent from Rs 350.24 crore recorded in the year-ago period.
Scrips of Tata Coffee closed at Rs 861.20 on the BSE, up from 1.49 per cent from the previous close.
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