Coffee Day India Q2 net profit plunges
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Coffee Day Enterprises Ltd Wednesday reported a 59.78 percent fall in consolidated net profit at Rs 23.83 crore for the September quarter due to higher expenses. The company had reported a net profit of Rs 59.26 crore in the corresponding period of the previous fiscal.
According to a report, Its total income grew to Rs 1,015.13 crore during the quarter under review, up 12.42 per cent, as against Rs 902.9 crore in the corresponding quarter of the year-ago period, Coffee Day Enterprises said in a BSE filing.
Expenses during the quarter stood at Rs 1,014.99 crore, up 13.83 per cent, as against Rs 891.6 crore a year ago.
The company said board of directors, at its meeting held on 14 November 2018, discussed the potential restructuring of the company’s business to segregate its coffee business and its subsidiaries from their non-coffee businesses (including integrated multi-nodal logistics, financial services, development and management of commercial space, hospitality services and investment operation).
“No decision to undertake any restructuring has been taken by the board at this stage,” it added.
Questions & Answers
Q.What caused the significant drop in Coffee Day India's net profit for the September quarter?
What caused the significant drop in Coffee Day India's net profit for the September quarter?
Coffee Day Enterprises Ltd reported a 59.78 per cent fall in consolidated net profit for the September quarter. This decline was attributed to higher expenses incurred by the company during the period.
Q.Did Coffee Day Enterprises' total income increase or decrease in the September quarter compared to the previous year?
Did Coffee Day Enterprises' total income increase or decrease in the September quarter compared to the previous year?
The company's total income grew to Rs 1,015.13 crore during the September quarter, an increase of 12.42 per cent. This is up from Rs 902.9 crore in the corresponding quarter of the year-ago period.
Q.What business restructuring plans did the board of directors discuss, and has a decision been made?
What business restructuring plans did the board of directors discuss, and has a decision been made?
The board discussed potentially segregating the coffee business and its subsidiaries from non-coffee businesses, which include logistics, financial services, and hospitality. However, no decision to undertake any restructuring has been taken by the board at this stage.
Q.How much did Coffee Day Enterprises' expenses increase in the September quarter compared to the same period last year?
How much did Coffee Day Enterprises' expenses increase in the September quarter compared to the same period last year?
Expenses during the quarter stood at Rs 1,014.99 crore, an increase of 13.83 per cent compared to the previous year. This is up from Rs 891.6 crore a year ago.
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