 "Tata Coffee dips post March quarter earnings")
Tata Coffee is trading lower by 3% at Rs 1,588 after reporting 12.5% year-on-year (yoy) drop in its consolidated net profit at Rs 25.22 crore for the quarter ended March 31, 2013 (Q4) due to higher sales promotion expenses and a loss in a group firm. Tata Group Company had a profit of Rs 28.83 crore in a year ago quarter.
Total income from operations had increased 1.5% to Rs 387 crore, against Rs 382 crore in the year-ago period.
During the quarter under review, the company had spent 60% extra amount on sales promotion and selling expenses to Rs 61.60 crore against Rs 38.45 crore in year ago quarter.
The company, in collaboration with Starbucks Coffee Company, commissioned a roasting and packaging plant at Kushalnagar in Kodagu district during the quarter.
The stock opened at Rs 1,585 and hit a low of Rs 1,558 on NSE. A combined 90,629 equity shares have changed hands on the counter so far on NSE and BSE.
Total income from operations had increased 1.5% to Rs 387 crore, against Rs 382 crore in the year-ago period.
During the quarter under review, the company had spent 60% extra amount on sales promotion and selling expenses to Rs 61.60 crore against Rs 38.45 crore in year ago quarter.
The company, in collaboration with Starbucks Coffee Company, commissioned a roasting and packaging plant at Kushalnagar in Kodagu district during the quarter.
The stock opened at Rs 1,585 and hit a low of Rs 1,558 on NSE. A combined 90,629 equity shares have changed hands on the counter so far on NSE and BSE.