Tata Coffee cons. PAT rises 91% yoy; stock hits 5% upper circuit

Tata Coffee cons. PAT rises 91% yoy; stock hits 5% upper circuit
Tata Coffee Limited (TCL) consolidated Profit After Tax jumped by 91% yoy at Rs42cr in Q3FY20 as compared to Rs22cr for the corresponding period in the previous year.

The consolidated total income for the quarter higher by 8% at Rs506cr as against Rs470cr for the corresponding period in the previous year.

The stock is trading at 52-week high t Rs107.20, up 5% on the BSE.

EOC reports higher profits due to lower advertisement and promotion costs and overall cost optimisation. Vietnam operations continue to improve with healthy sales to key customers. Order pipeline healthy, the company said in the filing on Tuesday.

Chacko P. Thomas, Managing Director, Tata Coffee Limited, said - "Our Instant Coffee exports from India continue to be strong, running to full capacities. We have seen good performances across geographies. On Plantations, improvement in prices and operating efficiencies have resulted in better profits. The newly established state-of-art plant in Vietnam has also registered robust sales in the third quarter, sequentially increasing production and sales. The Company has a robust sales order pipeline."

Tata Coffee Ltd is currently trading at Rs103.75, up by Rs4.65 or 4.69% from its previous closing of Rs99.10 on the BSE.




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