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Tata Coffee shares zoom over 9 pc after strong Q4 earnings
Shares of Tata Coffee on Friday jumped over 9 per cent after the company posted a more than two-fold jump in consolidated net profit for the fourth quarter of the 2020-21 fiscal. The stock gained 9.26 per cent to Rs 139.70 -- its 52-week high -- on the BSE.
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New Delhi
On NSE, it zoomed 9.42 per cent to its 52-week high of Rs 139.85.Â
Tata Coffee on Thursday posted a more than two-fold jump in consolidated net profit at Rs 57.37 crore for the fourth quarter of the 2020-21 fiscal on strong income.Â
The company had posted a net profit of Rs 24.05 crore in the same quarter of the previous fiscal, according to a regulatory filing.Â
Net income rose by 17 per cent to Rs 612.06 crore in the fourth quarter of 2020-21 from Rs 523.46 crore in the year-ago period.Â
Expenses remained higher at Rs 529.48 crore as against Rs 475.71 crore in the said period.Â
Tata Coffee Managing Director Chacko P Thomas said: "Despite challenging conditions, our overall performance has been strong."
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