Shares of Tata Coffee on Tuesday zoomed nearly 9 per cent after the company reported a 26.55 per cent jump in consolidated net profit for the September quarter. The stock gained 8.45 per cent to its 52-week high of Rs 254 on BSE. On NSE, it jumped 8.64 per cent to its 52-week high of Rs 254.40.
Tata Coffee on Monday reported a 26.55 per cent 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 per cent 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.