Tata Coffee Rises After Standalone Profit Surges 10 Times In March Quarter

Tata Coffee's net profit came in at Rs 101 crore compared with Rs 73 crore during the previous financial year.

Shares of Tata Coffee rose as much as 9.27 per cent to hit fresh 52-week high of Rs 139.85 after its standalone profit surged 10 times to Rs 40 crore from Rs 3.99 crore during the same quarter last year. Its revenue from operations rose 30 per cent to Rs 219 crore from Rs 167 crore during the same quarter last year. (Track Tata Coffee stock price here) For financial year 2021, Tata Coffee's net profit came in at Rs 101 crore compared with Rs 73 crore during the previous financial year. "Volume and pricing pressures on Instant Coffee business due to lower short-term demand with 'Out-of-Home' channels impacted across the globe," Tata Coffee said in a press release. Higher plantations revenues at Rs 97 crore compared to Rs 67 crore for the corresponding quarter of the previous year, an increase of 44 per cent, driven by higher Coffee Sales and improved realisations on Tea compared to corresponding quarter of the previous year, Tata Coffee added.