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Tata Coffee shares jump nearly 9 pc after Q2 earnings

Tata Coffee on Monday reported a 26.55 percent jump in consolidated net profit for the September quarter at Rs 53.66 crore, driven by value-added businesses.

By Newsd
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Tata Coffee shares jump nearly 9 pc after Q2 earnings

Shares of Tata Coffee on Tuesday zoomed nearly 9 percent after the company reported a 26.55 percent jump in consolidated net profit for the September quarter.

The stock gained 8.45 percent to its 52-week high of Rs 254 on BSE.

On NSE, it jumped 8.64 percent to its 52-week high of Rs 254.40.

Tata Coffee on Monday reported a 26.55 percent jump in consolidated net profit for the September quarter at Rs 53.66 crore, driven by value-added businesses.

The company’s consolidated net profit during the corresponding quarter of the previous fiscal stood at Rs 42.40 crore, Tata Coffee said in a BSE filing.

The consolidated profit has increased mainly driven by improved performance in the value-added businesses, the company added.

Total income grew by 1.40 percent during the second quarter of this fiscal to Rs 554.32 crore, compared to Rs 546.63 crore in the year-ago period, primarily due to improved sales of instant coffee in India.

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