Tata Coffee rose as a lot as 9.27 per cent to hit recent 52-week excessive of Rs 139.85.
Shares of Tata Coffee rose as a lot as 9.27 per cent to hit recent 52-week excessive of Rs 139.85 after its standalone revenue surged 10 occasions to Rs 40 crore from Rs 3.99 crore throughout the identical quarter final yr. Its income from operations rose 30 per cent to Rs 219 crore from Rs 167 crore throughout the identical quarter final yr. (Track Tata Coffee inventory value right here)
For monetary yr 2021, Tata Coffee’s internet revenue got here in at Rs 101 crore in contrast with Rs 73 crore in the course of the earlier monetary yr.
“Volume and pricing pressures on Instant Coffee business due to lower short-term demand with ‘Out-of-Home’ channels impacted across the globe,” Tata Coffee stated in a press launch.
Higher plantations revenues at Rs 97 crore in comparison with Rs 67 crore for the corresponding quarter of the earlier yr, a rise of 44 per cent, pushed by increased Coffee Sales and improved realisations on Tea in comparison with corresponding quarter of the earlier yr, Tata Coffee added.
“Despite challenging conditions, our overall performance has been strong. Our India Instant Coffee exports for the quarter have been higher despite logistics issues and fresh wave of lockdowns in Europe, which are expected to ease in the near future. We have seen stable performances across key geographies. Our Vietnam operations continue to be robust and order pipeline continues to be healthy. We see slowdown in demand in some geographies in the short-term, especially in the ‘out-of-home’ consumption due to the COVID 19 pandemic,” Chacko P. Thomas, managing director at Tata Coffee, stated in a press release.
As of two:12 pm, Tata Coffee shares traded 3.1 per cent increased at Rs 132. outperforming the Sensex which was down 1.58 per cent.
