India's Tata Coffee hits over 3-yr high on profit jump

Tata Coffee

30/04/2021 05:53

** Tata Coffee  TACO.NS  shares soar as much 9.4% to hit a
more than 3-year high of 139.85 rupees 
    ** Co's March-qtr consolidated net profit rose more than 4
times to 429.8 mln rupees ($5.81 million)
    ** TACO saw improved performance in its plantations
business, higher exports for India Instant Coffee in the quarter
 urn:newsml:reuters.com:*:nBSE7qm76C
    ** "We see slowdown in demand in some geographies in the
short-term, especially in the 'Out-of-Home' consumption due to
the COVID 19 pandemic" - Managing Director Chacko Thomas
    ** March-qtr consolidated revenue from operations rose to
5.91 bln rupees from 5.17 bln rupees a year earlier
    ** Including session gains, TACO stock is up over 33% this
year


($1 = 74.0225 Indian rupees)

 (Reporting by Shivani Singh in Bengaluru)
 ((ShivaniSingh1@thomsonreuters.com; +91 89 6969 2349))