Cafe Coffee Day logs Q1 net profit of Rs 25 cr, revenue at Rs 223.20 cr

Coffee Day Global Ltd (CDGL), which operates coffee chain CCD, has posted a net profit of Rs 24.57 crore for June quarter 2023-24.

In the year-ago period, it incurred a loss of Rs 11.73 crore.

Revenue from operations was at Rs 223.20 crore in the quarter under review. It was Rs 189.63 crore in the year-ago period, as per the quarterly results of Coffee Day Enterprises Ltd (CDEL).

CDGL is an unlisted company. However, its parent firm CDEL shares the results of the owner and operator of coffee chain Cafe Coffee Day (CCD) every quarter.

Total income of CDGL in June quarter 2023-24 was Rs 250 crore.

However, its count of cafe outlets reduced to 467 in June quarter both on year-on-year and sequential basis. It was operating 493 outlets in June quarter of FY23 and 469 in the March quarter.

Its vending machine count went up to 50,870 in June quarter from 46,603 in the year-ago period.

Its ASPD (average sales per day) increased to Rs 20,824 in the June quarter. It was at Rs 19,537 a year ago.

Vending machine count is growing substantially. In the preceding March quarter, the number was 49,895.

Last week, the National Company Law Appellate Tribunal (NCLAT) stayed an order of NCLT that directed initiation of insolvency proceedings against the company.

Passing an interim order, the Chennai bench of the appellate tribunal issued notices to the Interim Resolution professional and its financial creditor IndusInd Bank and stayed the order passed by the Bengaluru bench of National Company Law Tribunal (NCLT).

The NCLAT order came over a petition filed by Malavika Hegde, the Director of CDGL and wife of late VG Siddhartha.

On July 20, the Bengaluru bench of NCLT passed an order over a plea filed by IndusInd Bank, a financial creditor of the company, claiming dues of Rs 94 crore.