Coffee beans are set up for a photograph in a Starbucks store in New York on December 30, 2004. Coffee prices may rise to a six-year high in 2005 after outpacing major commodities this year, a Bloomberg survey found. Smaller crops in Brazil and the growing appetite for lattes may spur the increase. Photographer: Daniel Acker/Bloomberg News. | Photo Credit: Daniel Acker
Shares of Tata Coffee Ltd on Thursday gained over 4 per cent after the firm reported a 20 per cent increase in its consolidated net profit for the quarter ended December.
The stock jumped 3.80 per cent to ₹115.80 on the BSE. At the NSE, it gained 4.22 per cent to ₹116.
Tata Coffee Ltd on Wednesday reported a 20 per cent increase in its consolidated net profit at ₹50.18 crore for the quarter ended December on higher income. Its net profit stood at ₹41.99 crore in the year-ago period.
Total income rose to ₹538.19 crore in the third quarter of this financial year from ₹505.75 crore in the corresponding period of the previous year, the company said in a regulatory filing.
The rise in income is driven by improved performance from the group’s value-added businesses, Tata Coffee said.
Published on January 28, 2021
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