<keyword id="176328" type="General" weightage="100" keywordseo="tata-coffee" source="Orion">Tata Coffee</keyword> on Tuesday reported a 44.71 per cent decline in consolidated net profit during the December quarter at ₹38.40 crore. The consolidated net profit of Tata Coffee Ltd (<keyword id="150734" type="General" weightage="50" keywordseo="tcl" source="Orion">TCL</keyword>) stood at ₹69.46 crore in the year-ago period, it said in a regulatory filing. Consolidated total income for the quarter witnessed a 19.13 per cent growth during the October-December period at ₹754.76 crore as compared to ₹633.52 crore in the corresponding period the previous year, driven by higher realisations in Eight O'Clock Coffee (EOC) and instant coffee businesses of the company. The company, a subsidiary of Tata Consumer Products formerly known as <keyword id="148911" type="General" weightage="50" keywordseo="tata-global-beverages" source="Orion">Tata Global Beverages</keyword>, stated that the improved price realisations driven by superior product mix in the instant coffee business both in India and Vietnam have aided the company's quarter performance. The operating performance of EOC business was impacted during the quarter under review by higher input and other costs, which are expected to ease over coming quarters, it said. Tata Coffee's Vietnam operations continue to deliver robust sales with improved profitability driven by higher sales of premium products, it said. "The performance of our instant coffee business continues to be robust. Tata Coffee's Vietnam operations continue to be strong with a healthy order pipeline. There is, however, continuing inflationary pressure on costs and impact on instant coffee sales in some geographies. "Our subsidiary, Eight O'Clock Coffee, has registered higher revenues though the profitability for the quarter has been impacted due to higher costs," TCL Managing Director <keyword id="16231803" type="General" weightage="50" keywordseo="chacko-p" source="Orion">Chacko P</keyword> <keyword id="6356986" type="General" weightage="50" keywordseo="thomas" source="Orion">Thomas</keyword> said. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/climate-tech-platform-ecozen-raises-25-million-to-expand-beyond-agriculture/articleshow/97278794.cms">Climate tech platform Ecozen raises $25 million to expand beyond agriculture</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/jsw-steel-arm-enters-into-deal-to-buy-31-pc-stake-in-startup-ayena/articleshow/97278651.cms">JSW Steel arm enters into deal to buy 31 pc stake in startup Ayena</a>

Tata Coffee consolidated Q3 net profit falls 45% to ₹38 crore

<img class="gwt-Image" src="/photo/57792666.cms" /> 
 A variety of Indian brew, which was grown in the hills of the Western Ghats in <keyword id="6363217" type="CITY" weightage="20" keywordseo="Coorg">Coorg</keyword>, quietly made its way to the caffeine connoisseurs at <keyword id="6377922" type="CITY" weightage="20" keywordseo="Starbucks">Starbucks</keyword>’ Reserve in <keyword id="64863" type="COMPANY" weightage="20" keywordseo="Seattle">Seattle</keyword>, a first for any <keyword id="613718" type="UNKNOWN" weightage="20" keywordseo="Indian-coffee">Indian coffee</keyword>. 
 Last year, this single-origin Arabica coffee grown in <keyword id="6354780" type="ENTERTAINMENT" weightage="20" keywordseo="Karnataka">Karnataka</keyword>’s <keyword id="65856" type="COMPANY" weightage="20" keywordseo="Kodagu">Kodagu</keyword> district was shipped around 8,000 miles to the <keyword id="3448642" type="UNKNOWN" weightage="20" keywordseo="starbucks-reserve-roastery">Starbucks Reserve Roastery</keyword> and Tasting Room in Seattle, <keyword id="6355055" type="COUNTRY" weightage="20" keywordseo="USA">USA</keyword>, where it was roasted to perfection. 
 The <keyword id="4328137" type="UNKNOWN" weightage="20" keywordseo="starbucks-reserve-programme">Starbucks Reserve Programme</keyword> is an ongoing series of the rarest and most exotic coffees which are unique, small-lot coffees that the company selects from all over the world. 
 Located at around 3,000 feet above sea level, <keyword id="4110132" type="UNKNOWN" weightage="20" keywordseo="nullore-estate">Nullore estate</keyword> is the largest Arabica plantation owned by the Tata—Starbucks’ joint venture partnership in India. 
 
<a href="http://www.businessinsider.in/exclusive-check-out-the-inside-of-yumists-kitchen-from-where-delicious-meals-are-delivered-to-you/articleshow/57409991.cms">ALSO READ: Exclusive: Check out the inside of Yumist’s Kitchen from where delicious meals are delivered to you</a> 
 
The 394-hectare estate produces over 500 tonnes of coffee every year. 
 
To put things into perspective, the first official ‘Indian coffee’ to be available through the brand: Starbucks was introduced in 2013, to celebrate the Tata-Starbucks first anniversary in the market. 
 
Starbucks had created a special India-sourced coffee, called ‘India Estates Blend’, as a tribute but it was sourced, roasted, packaged, and sold only in India. 
 But that was sourced from multiple coffee lots, unlike <keyword id="3694540" type="UNKNOWN" weightage="20" keywordseo="nullore">Nullore</keyword> Estate coffee which was is a 'Microlot coffee'. A Microlot is a small quantity coffee usually to about 40 bags, from a single estate that has been deliberately set aside from other coffee because it has a high 'cupping score which means better quality. 
 
<a href="http://www.businessinsider.in/starbucks-app-just-launched-in-india-and-heres-why-its-convenient/articleshow/57652881.cms">ALSO READ: Starbucks App just launched in India and here's why it's convenient</a> 
 <keyword id="150271" type="PERSON" weightage="20" keywordseo="Chacko">Chacko</keyword> P Thomas, Deputy CEO and Executive Director, <keyword id="176328" type="COMPANY" weightage="20" keywordseo="Tata-Coffee">Tata Coffee</keyword> Ltd told <keyword id="824043" type="COMPANY" weightage="20" keywordseo="Business-Insider">Business Insider</keyword> that for the company the approach to Indian Coffee has changed from one for the masses to specialty coffee such as the one from Nullore estate, ’’We always thought that the buck lies in volumes which led to profitability but then we found gems in our estates. Ms. <keyword id="17256" type="PERSON" weightage="20" keywordseo="Menon">Menon</keyword> made us realize that some of our coffees need to be marketed as a brand as they are a great quality produce.” 
 
What makes ‘Block 19’special? 
 
For starters, this Arabica coffee is grown under a unique two-tier shade system under local and fruit bearing trees. 
 
The shade is carefully controlled, which helps the coffee bean mature slowly, allowing it to absorb its environment which gives it the special smell and taste. 
 
<img class="gwt-Image" src="/photo/57792735.cms" /> 
 
The Taste 
 
The coffee is intensely fragrant and aromatic, with notes of red apple, caramel, citrus, toasted nuts, and milk chocolate. 
This taste and smell is attributed to the flora and fauna that surrounds this 8-hectares estate. 
 
Trees like Ficus, Jackfruit, and Silver Oak surround the coffee plants giving the earthiness to the coffee. 
Block 19 is home to a colony of ‘fruit bats’ and migratory birds which are the main reason behind the coffee’s fruity persona. 
The estate also plays host to the honey bee. 
 
<a href="http://www.businessinsider.in/heres-my-experience-at-the-tata-coffee-plantation-bungalows-that-are-over-140-years-old/articleshow/57496157.cms">ALSO READ: Here’s my experience at the Tata Coffee Plantation bungalows that are over 140 years old</a> 
 
Sunalini Menon, Asia’s first woman coffee expert has been credited for the experiential of deconstructing the Nullore Microlot. She closely worked on this micro lot that has put Indian coffee on the global map. 
 
She says that this coffee has opened up opportunities for the quality coffee that India produces now, ‘To nurture every particular bean to reach the best quality, the processing takes up the entire year. From the soil, to the climate to even pesticides, can affect the coffee bean and we took extra care to send out 2 tonnes of the Nullore estate coffee of which each bean was tested for quality before being shipped out to the US," she proudly exclaims.

The tale of Tata Nullore Estate
coffee that made it to the Starbucks Reserve in Seattle

<keyword id="54794" type="General" weightage="20" keywordseo="nationalist-congress-party" source="Orion">Nationalist Congress Party</keyword> (<keyword id="42402" type="General" weightage="20" keywordseo="ncp" source="Orion">NCP</keyword>) <keyword id="2540" type="General" weightage="20" keywordseo="president" source="Orion">President</keyword> <keyword id="6364749" type="General" weightage="20" keywordseo="sharad-pawar" source="Orion">Sharad Pawar</keyword> on Tuesday announced that he was stepping down as party chief, and also said that he has formed a panel to name his successor. He announced a committee comprising top leaders like <keyword id="6355497" type="General" weightage="20" keywordseo="praful-patel" source="Orion">Praful Patel</keyword>, Sunil Tatkare, K.K. Sharma, P.C. Chacko, Ajit Pawar, Jayant Patil, Supriya Sule, Chhagan Bhujbal, Dilip Walse-Patil, Anil Deshmukh, Rajesh Tope, Dr. Jitendra Awhad, Hasan Mushrif, Dhananjay Munde, and Jaydev Gaikwad. Other ex-officio Members are: NCP Mahila Congress President Fauzia Khan, NCP Youth Congress President Dheeraj Sharma NCP Student Congress President Sonia Duhan, which will decide on the new party president's selection. State and national political circles greeted Nationalist Congress Party (NCP) President Sharad Pawar's decision to step down as party chief with shock, disbelief, many in tears and vociferous calls asking him to withdraw his move, here on Tuesday. State NCP President Jayant Patil broke down, other senior leaders like Praful Patel, Chhagan Bhujbal, Dilip Walse-Patil Narhari Zirwal, and many more said the decision was 'not acceptable,' made fervent appeals and 'begged' with moist eyes to their aSupremo' to retract, and many others even threatened to resign from their posts. Senior leaders like Ajit Pawar, state party chief Jayant Patil and others attempted to pacify the party workers and the lower-rung leaders, and urged them to remain calm. Pawar, 82, made the announcement of his retirement during the release of his autobiography, 'Lok Majhe Sangati - Political Autobiography'. "It will continue to strive for the growth of the party organisation, to take the ideology and goals of the party to the people, and to serve the people, as they deem fit. Even though I am stepping down from the post of president, I am not retiring from public life," said Pawar. He pointed out how 'constant travel' has become an integral part of his life and he would continue attending public events, meetings, and would be available to all whether in Delhi, Mumbai, Pune, Baramati or any other part of India. "I will be available to all of you as usual. I will continue to work round the clock to solve people's problems. The love and trust of the people is my breath. There will be no separation from me or public retirement. I was with you; I am and will always be there till my last breath! So we'll keep meeting," said Pawar in his farewell speech. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/26-million-jobs-to-be-wiped-out-globally-by-2027-clerical-and-administrative-roles-on-more-risk/articleshow/99930222.cms">26 million jobs to be wiped out globally by 2027 – Clerical and administrative roles to see the biggest decline, says WEF’s Future of Work Report</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/science/health/news/severe-heatwave-may-trigger-and-worsen-asthma-say-experts/articleshow/99931263.cms">Severe heatwave may trigger and worsen asthma, say experts</a>

Sharad Pawar quits as NCP chief, forms panel to name his successor

<img class="gwt-Image" src="/photo/47266492.cms" />Son-in-law of Congress party’s President <keyword id="689" type="PERSON" weightage="60" keywordseo="Sonia-Gandhi">Sonia Gandhi</keyword>, <keyword id="12593" type="PERSON" weightage="80" keywordseo="Robert-Vadra">Robert Vadra</keyword>, may get into trouble as <keyword id="58687" type="ORGANIZATION" weightage="60" keywordseo="Bharatiya-Janata-Party">Bharatiya Janata Party</keyword> (BJP)-led <keyword id="74452" type="ORGANIZATION" weightage="80" keywordseo="Haryana-government">Haryana Government</keyword> will soon set up a panel to probe his land deals in the state. 
 
The state government is in final stages of setting up the panel, which is likely to be headed by former Supreme Court judge Justice Swatanter Kumar. 
 
BJP’s Haryana in-charge and national general secretary Anil Jain said the commission is in formative stage. 
 
"We are surely going ahead with forming a commission to look into all the land deals, if we spot any aberration, the panel will look into it. Right now the commission is in the formative stage," said Jain. 
 
Former Haryana Chief Minister B.S. Hooda, who is also named by the BJP, said there was nothing illegal in Vadra deals. 
Congress party also came out to support Vadra. 
 
"These kinds of tactics won't work on us. If there is truth to it let them bring it out, why make statements?" said senior Congress party leader Mallikarjun Kharge. 
 
Party spokesperson P.C. Chacko played down the panel, saying there was nothing new in the charges levelled by the government. 
 
However, Haryana Health Minister Anil Vij was confident about the probe initiated against "Rahul Gandhi's suited-booted brother-in-law". 
 
"When will it happen, who will do it, only CM Khattar will take a call on it," Vij said. 
 
In March, CAG had said that the previous Hooda government had granted undue favours to builders, including Vadra's firm, Skylight Hospitality. 
 
Congress party has insisted the CAG report has neither indicted the former Congress government of Haryana or Vadra or his Skylight Hospitality Private Limited for any violation of the Haryana Development and Regulation of Urban Areas Act, 1975, or any rules or policy. 
 Skylight Hospitality sold a prime 3.5 acre piece of land in Manesar in Gurgaon district to <keyword id="6362997" type="CITY" weightage="80" keywordseo="DLF">DLF</keyword> in 2008 for Rs 58 crore. The land had, however, only cost his company 
around Rs 15 crore and was sold to DLF after obtaining change of land use and other permissions. 
 Vadra is a flamboyant businessman who married Sonia Gandhi’s daughter <keyword id="12587" type="PERSON" weightage="60" keywordseo="Priyanka-Gandhi">Priyanka Gandhi</keyword> in 1997. 
 
(Image: Indiatimes)

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Tata Coffee consolidated Q3 net profit falls 45% to ₹38 crore

PTI

The tale of Tata Nullore Estate coffee that made it to the Starbucks Reserve in Seattle

Tanya Dubey

Sharad Pawar quits as NCP chief, forms panel to name his successor

IANS

BJP spells trouble for Robert Vadra, to probe land deals

BI India Bureau