Tata Coffee shares down 3% as Q4 net dips

By: |
Updated: May 17, 2016 4:08:40 PM

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

coffee-reu-LYesterday, 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.

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Switch to Hindi Edition
FinancialExpress_1x1_Imp_Desktop