Tata Coffee shares close over 2 pc higher after Q4 earnings

Shares of Tata Coffee on Friday closed with a jump of over 2 per cent after the company posted a more than two-fold jump in consolidated net profit for the fourth quarter of 2020-21 fiscal.

The stock gained 9.26 per cent to Rs 139.70 -- its 52-week high -- on the BSE during the day. Later, it trimmed some of the gains and closed at Rs 130.75, a 2.27 per cent rise.

On the NSE, it closed with a gain of 2.11 per cent at Rs 130.50.

In traded volume terms, 11.72 lakh shares were traded at the BSE and over 1.46 crore units at the NSE during the day.

Tata Coffee on Thursday posted a more than two-fold jump in consolidated net profit at Rs 57.37 crore for the fourth quarter of 2020-21 fiscal on strong income.

The company had posted a net profit of Rs 24.05 crore in the same quarter of the previous fiscal, according to a regulatory filing.

Net income rose 17 per cent to Rs 612.06 crore in the fourth quarter of 2020-21 from Rs 523.46 crore in the year-ago period.

Expenses remained higher at Rs 529.48 crore as against Rs 475.71 crore in the said period.

Tata Coffee Managing Director Chacko P Thomas said: "Despite challenging conditions, our overall performance has been strong."