Tata Coffee hits 52-week high as Q1 profit more than doubles

The stock rallied nearly 15% to Rs 132, also its 52-week high on the BSE in intra-day trade.

Tata Coffee has rallied nearly 15% to Rs 132, also its 52-week high on the BSE in intra-day trade, after its  consolidated net profit more than doubles to Rs 64 crore for the quarter ended June 30, 2016 (Q1FY17), on the back of strong operational income. The Tata Group Company had registered a profit of Rs 27 crore in the corresponding quarter last fiscal.

Total income from operations of the company during the quarter under review increased 21% YoY at Rs 426 crore against Rs 352 crore in the corresponding quarter of previous fiscal. The raw material costs declined 14% to Rs 125 crore in Q1FY17 from Rs 146 crore in the year-ago quarter.

EBITDA (earnings before interest, taxes, depreciation, and amortization) margins improved substantially to 26.6% from 16.93% in June 2015 quarter.

Tata Coffee produces and markets a bouquet of premium differentiated coffees – like Estate specific, Washed Arabica and Robusta, Specialty, Monsooned and Certified.

At 12:34 pm, the stock was up 10% at Rs 127 on the BSE, as compared to 0.27% rise in the S&P BSE Sensex. A combined 5.55 million shares changed hands on the BSE and NSE.