CCL Products zooms on Q2 earnings, growth forecast

The stock gained on the back of strong Q2 earnings boosted by Vietnam operations and robust growth forecast

Shares of CCL Products zoomed on the back of strong second quarter earnings aided by Vietnam operations and encouraging growth forecast for the next three years.
 
The Hyderabad-based coffee producer registered a 29% jump in its net profit at Rs 26 crore for the quarter ended September 2014, against Rs 20 crore in the same quarter last fiscal.

Consolidated turnover for the September quarter was higher at Rs 247 crore from Rs 176 crore during the same period.

CCL executive chairman, C Rajendra Prasad, said that the company’s Vietnam plant, which commenced operations this year, had contributed to the rise in profits.

Stating that CCL was continuously registering a 30 per cent year-on-year growth rate since 2003, except in 2007-08, Prasad told mediapersons that the same growth rate was expected to continue for the next three years.

The stock opened at Rs 133 and touched a high of Rs 141. At 10:30AM, over 2.4 million shares were traded on the BSE and NSE.