1. Tata Coffee shares down 3% as Q4 net dips

Tata Coffee shares down 3% as Q4 net dips

The stock declined by 3 per cent to Rs 89.15 on BSE.

By: | Updated: May 17, 2016 4:08 PM
coffee-reu-L Yesterday, Tata Coffee reported a 12.55 per cent fall in consolidated net profit to Rs 34.47 crore in the March quarter due to higher expenses. (Reuters)

Tata Coffee shares today fell 3 per cent after the company posted a 12.55 per cent fall in consolidated net profit in fourth quarter of 2015-16 fiscal.

Shares of the company ended 3.26 per cent down at Rs 89. The company’s result were announced post market hours on Monday.

On Monday, Tata Coffee reported a 12.55 per cent fall in consolidated net profit to Rs 34.47 crore in the March quarter due to higher expenses.

The company had posted a net profit of Rs 39.42 crore in the same quarter previous year, Tata Coffee had said in a regulatory filing.

The net profit took a beating as the company’s expenses rose by 6.47 per cent to Rs 388.98 crore in the January-March quarter of the 2015-16 fiscal from Rs 365.34 crore in the year-ago period.

However, the company’s total income rose slightly to Rs 456.54 crore from Rs 451.51 crore in the said period.

For full fiscal, Tata Coffee reported a fall in consolidated net profit by 2.11 per cent to Rs 117.84 crore as against Rs 120.39 crore in the previous year.

Tags: Tata Coffee
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