Tata Coffee jumped 5.45% to Rs 104.5 after the company announced strong Q3 2019 numbers after market hours yesterday, 28 January 2020.
Tata Coffee on Tuesday reported a 121.7% jump in consolidated net profit to Rs 24.9 crore for December quarter of 2019-20. The company had registered a net profit of Rs 11.23 crore in the year ago period.Net sales during Q3 December 2019 stood at Rs 501.42 crore as against Rs 465.37 crore reported in Q3 December 2018, rising by 7.7% year on year (YoY).
Tata Coffee said that the board of directors has approved disposal of upto 1,60,000 equity shares of Rs 10 each held by the company in Tata Chemicals, through secondary market.
Tata Coffee said that Vietnam operations continued to improve with healthy sales to key customers. The company's order pipeline also showed a healthy picture.
Tata Coffee, a subsidiary of Tata Global Beverages, is Asia's largest integrated coffee Company and the 2nd largest exporter of Instant Coffee. Shares of Tata Global Beverages were trading 1.21% higher at Rs 385.6 on BSE.
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