Tata Coffee tumbles after weak Q4 earnings

Tata Coffee fell 4.64% to Rs 970.90 at 14:07 IST on BSE after consolidated net profit fell 35.3% to Rs 16.32 crore on 0.3% decline in net sales to Rs 374.27 crore in Q4 March 2014 over Q4 March 2013.

The result was announced after trading hours on Tuesday, 13 May 2014.

Meanwhile, the BSE Sensex was down 79.59 points, or 0.33%, to 23,791.64.

On BSE, so far 34,000 shares were traded in the counter, compared with an average volume of 33,906 shares in the past one quarter.

The stock hit a high of Rs 1,004 and a low of Rs 969 so far during the day. The stock hit a 52-week high of Rs 1,608 on 14 May 2013. The stock 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 13 May 2014, falling 1.42% compared with 5.49% rise in the Sensex. The scrip had also underperformed the market in past one quarter, rising 15.57% as against Sensex's 18.21% rise.

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

On a consolidated basis, Tata Coffee's net profit fell 29.9% to Rs 81.48 crore on 3% decline in net sales to Rs 1611.03 crore in the year ended March 2014 over the year ended March 2013.

Tata Coffee is Asia's largest coffee plantation company and the 3rd largest exporter of instant coffee in the country. The company produces more than 10,000 MT of shade grown Arabica and Robusta coffees at its 19 estates in South India and its two Instant Coffee manufacturing facilities have a combined installed capacity of 8400 metric tonnes. It exports green coffee to countries in Europe, Asia, Middle East and North America.

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