Tata Coffee hits 52-week high on strong December quarter results

Shares of Tata Coffee rallied 8 per cent on the BSE to hit a 52-week high of Rs 107 on Wednesday after the company reported a strong 61 per cent year-on-year (YoY) jump in its consolidated profit before exceptional items and tax (PBT) at Rs 53 crore in December quarter (Q3FY20). The company had logged PBT of Rs 33 crore in the year-ago quarter.

The company’s revenue from operations remained flat during the quarter at Rs 166 crore against Rs 165 crore in the corresponding quarter of the previous fiscal. Profit after tax (PAT) grew 53 per cent YoY