Earnings before interest, tax, depreciation and amortisation (EBITDA) margin improved to 8.9 per cent from 5.35 per cent in the year-ago period.
The management said Eight O' Clock Coffee (EOC) reported higher profits due to lower advertisement and promotion costs and overall cost optimisation.
On plantations, improvement in prices and operating efficiencies has resulted in better profits. The newly established state-of-the-art plant in Vietnam has also registered robust sales in the third quarter, sequentially increasing production and sales. The company has a robust sales order pipeline, it added.
Meanwhile, Tata Coffee
board approved the sale of up to 160,000 shares (0.06 per cent) held by the company in Tata Chemicals, through the secondary market.
At 09:37 am, the stock was trading 5 per cent higher at Rs 104 on the BSE. The counter has seen huge trading volumes with a combined 1.9 million equity shares changing hands on the NSE and BSE.