Tata Coffee drops after weak Q1 outcome

Tata Coffee lost 1.61% to Rs 952.60 at 15:19 IST on BSE after consolidated net profit fell 24.93% to Rs 30.31 crore on 10.5% decline in total income from operations to Rs 374.52 crore in Q1 June 2014 over Q1 June 2013.

The Q1 result was announced during market hours today, 22 July 2014.

Meanwhile, the S&P BSE Sensex was up 309.71 points or 1.2% at 26,024.88.

On BSE, so far 82,000 shares were traded in the counter as against average daily volume of 24,867 shares in the past one quarter.

The stock was volatile. The stock lost as much as 3.67% at the day's low of Rs 932.60 so far during the day. The stock rose as much as 2.36% at the day's high of Rs 991 so far during the day. The stock had hit a 52-week high of Rs 1,184.85 on 6 November 2013. The stock had hit a 52-week low of Rs 869.90 on 18 February 2014.

The stock had underperformed the market over the past one month till 21 July 2014, advancing 0.67% compared with Sensex's 2.43% rise. The scrip had also underperformed the market over the past one quarter, sliding 5.67% as against Sensex's 12.96% rise.

The small-cap company has equity capital of Rs 18.68 crore. Face value per share is Rs 10.

Tata Coffee is Asia's largest coffee plantation company and the 3rd largest exporter of instant coffee in the country.

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