Tata Coffee sizzles after launch of unit at Vietnam

Tata Coffee rose 1.05% to Rs 91.30 at 10:25 IST on BSE after the company's wholly-owned subsidiary unveiled its Freeze Dried Instant Coffee Production Plant at Binh Duong province of Vietnam.

The announcement was made after market hours yesterday, 7 March 2019.

Meanwhile, the S&P BSE Sensex was down 61.69 points or 0.17% at 36,663.73

On the BSE, 8955 shares were traded on the counter so far as against average daily volumes of 33,000 shares in the past two weeks. The stock had hit a high of Rs 92.90 and a low of Rs 90.80 so far during the day.

Tata Coffee Vietnam Company, a wholly-owned subsidiary of Tata Coffee, has on 6 March 2019, unveiled its state-of-the art Freeze Dried Instant Coffee Production Plant at Binh Duong province of Vietnam. The plant has capacity to manufacture 5000 MT of Freeze Dried Instant Coffee, per annum. This is the company's third manufacturing plant, after Theni and Toopran in India and is the first one to be set up at an off-shore location.

Tata Coffee's consolidated net profit dropped 73.81% to Rs 11.23 crore on 23.73% rise in total income to Rs 471.85 crore in Q3 December 2018 over Q3 December 2017.

Tata Coffee is a subsidiary of Tata Global Beverages and part of the Tata Group. It is Asia's largest coffee plantation company and one of the largest exporter of instant coffee in the country.

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