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Coffee Day Enterprises Q1 results: Net profit at Rs 1,672.41 cr helped by sale of stake in Mindtree

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Ltd reported a consolidated net profit of Rs 1,672.41 crore for the April-June quarter, helped by stake sale in Mindtree.

Coffee Day Enterprises Q1 results: Net profit at Rs 1,672.41 cr helped by sale of stake in Mindtree

According to a PTI report: The company had posted a net profit of Rs 21.06 crore in the April-June quarter a year ago, Coffee Day Enterprises Ltd (CDEL) said in a BSE filing.

Its revenue from operation was down 4.06 percent to Rs 926.80 crore as against Rs 966.04 crore in the corresponding quarter of the last fiscal.

Total expenses stood at Rs 1,128.57 crore in the June quarter of FY21, as against Rs 981.16 crore a year ago, up 15.02 per cent.

It had a loss of Rs 181.49 crore before share of equity accounted investees and exceptional items and taxes. During the April-June quarter of FY21, the company has declared income of Rs 1,941.95 crore in the exceptional items from sales of share of the company and its subsidiaries in Mindtree to Larsen & Toubro.

“During the quarter ended June 30, 2019, the company has recorded the gain on sale of such share net of transactions cost as an exceptional item amounting to Rs 1,975 crore. The exceptional item of the quarter ended June 30, 2019 includes loss of Rs 23 crore on sale of share held in Global Edge Software and Rs 10 crore impairment of certain intangible assets by a subsidiary, said CDEL.

CDEL’s revenue from coffee and related business was at Rs 442.57 crore, down 6.20 percent, as against 471.85 crore in the corresponding quarter a year ago.

While revenue from integrated multimodal logistics was up 11.91 percent to Rs 362.07 crore as against Rs 323.51 crore.

Revenue from Financial services was down 48.33 percent to Rs 66.38 crore as against Rs 128.48 crore.

Leasing of commercial office space was up 22.53 percent to Rs 45.03 crore as against Rs 36.75 crore.

Revenue of its subsidiary Coffee Day Global, which operates Cafe Coffee Day chain, was at Rs 442.57 crore, down 6.18 percent, during the quarter as against Rs 471.85 crore a year ago.

Its cafe outlet counts have also gone down to 1,480 during the quarter from 1,742 a year ago.

However, the count of its vending machines rose to 59,115 from 49,397.