India's Tata Coffee posts strong Q2 pre-tax profit on lower costs, higher prices

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BENGALURU, Oct 19 (Reuters) - India's Tata Coffee (TACO.NS) on Thursday reported a near 63% rise in second-quarter profit, as lower costs and higher prices for its premium brands such as Gold and Eight o'clock coffee more than offset subdued sales...

Consolidated profit before exceptional items and tax for the July-Sept quarter stood at 820.4 million rupees ($9.86 million), compared with 503.8 million rupees a year earlier, the company said...

The company, which is a supplier to a joint venture between U.S. coffee chain Starbucks (SBUX.O) and parent Tata Consumer Products (TACN.NS), reported a 51.5% rise in pre-tax profit of its value-added business...

Earlier in the day, consumer major Nestle India (NEST.NS) beat estimates with a 37.3% rise in September-quarter profit on higher demand for its chocolates and instant noodles...

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