Tata Coffee June quarter revenue grows 6% to Rs 701 crore; shares rise

Tata group company Tata Coffee on Wednesday reported a net profit of Rs 62.1 crore for the April-June period, marking a decline of 5.2 per cent compared with the corresponding period a year ago. Its revenue expanded 5.8 per cent on a year-on-year basis to Rs 700.7 crore for the first quarter of the current financial year, according to a regulatory filing. 

Tata Coffee shares — traded on the bourses with the symbol TATACOFFEE — built on their intraday gains after the earnings announcement, rising by as much as Rs 6.2 or 2.5 per cent to Rs 253.9 apiece on BSE. 

The stock came within Rs 3 of its 52-week high, scaled last month. 

Revenue from Tata Coffee's plantations unit increased 25.4 per cent to Rs 143.1 crore and that from value-added products rose 3.1 per cent to Rs 580.2 crore, according to the filing. 

The company's cost of material consumed came down 1.7 per cent to Rs 280 crore for the three-month period. 

Tata Coffee produces, trades and distributes coffee, tea and allied products.

(This story will be updated shortly)

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