Tata Coffee gains after Q1 results

Tata Coffee rose 1.91% to Rs 74.75 at 10:02 IST on BSE after consolidated net profit fell 12.8% to Rs 22.14 crore on a 10.5% rise in the net sales to Rs 466.67 crore in Q1 June 2019 over Q1 June 2018.

The result was announced after market hours yesterday, 25 July 2019.

Meanwhile, S&P BSE Sensex was down 109.89 points or 0.29% at 37,721.09.

On BSE, 5,248 shares were traded in Tata Coffee counter, compared to a 2-week average of 31,000 shares. The stock hit an intraday high of Rs 75.20 and an intraday low of Rs 74.25. It hit a 52-week high of Rs 119.40 on 3 September 2018 and a 52-week low of Rs 70.10 on 25 July 2019.

Chacko P. Thomas, managing director of Tata Coffee, said "I am pleased to report that our Instant Coffee business continues to perform well, registering higher volumes during the quarter compared to the previous year. We have seen good performances across geographies. However, while the volumes are higher, the Instant Coffee business continues to be under margin pressure due to the current competitive scenario in the industry. The overall Plantation Profitability has also registered an increase driven by improved volumes of coffee sold and better realization. The tea operations has also done better during the quarter compared to the previous year."

Tata Coffee (TCL) is a subsidiary of Tata Global Beverages (TGBL). The company produces 8,000 - 10,000 MT of shade grown Arabica and Robusta Coffee at its 19 estates in South India. Its two Instant Coffee manufacturing facilities in India have a combined installed capacity of 8,400 MT.

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