Coffee Day Enterprises Q2 net loss at Rs 109 crore on exceptional items

Coffee Day Enterprises Ltd on Thursday reported a consolidated net loss of Rs 109.15 crore for the second quarter ended September 2023 on account of exceptional items.

Revenue up 12.75%

However, its revenue from operations was up 12.75 per cent at Rs 258.40 crore in the second quarter of this fiscal. It was at Rs 229.16 crore in the year-ago period.

Exceptional items

It has expenses of Rs 119.22 crore in the exceptional items. CDEL had a Profit before exceptional items and tax of Rs 3.50 crore. During the Quarter ended 30 September 2023, Tanglin Developments Limitedsubsidiary has received its Global Village Second tranche sale proceeds of Rs 349 crores prost deductions of certain expenses incurred by GV Tech Parks on behalf of the Tanglin Developments Limitedsubsidiary and for non-satisfaction of certain CPs as agreed in the investment agreement and an amount of Rs. 45.22 crores is shown as an expense under exceptional items, it said. Besides Tanglin Developments has repaid Rs 93 crore for its corporate guarantee liability as a full and final settlement as agreed in the settlement agreement entered with the lender of Coffee Day Global Ltd and Sical Logistics. Of Rs 93 crores, an amount of Rs 50 crores was paid towards corporate guarantee obligation of Sical Logistics Limited. Since, Sical Logistics Limiteds resolution process is completed and judgment given on 8th December 2022. No amount is recoverable and same is shown as an expense under exceptional items, it said.

Total expenses up 5.18%

Its total expenses were at Rs 258.46 crore, up 5.18 per cent in the September quarter.Revenue from the coffee and related business was at Rs 247.53 crore and Rs 11.32 crore came from hospitality services during Q2/FY24. Total revenue in the September quarter was at Rs 261.96 crore, up 4.79 per cent. Shares of Coffee Day Enterprises Ltd on Thursday settled at Rs 48.63 on BSE, down 1.30 per cent.