Tata Coffee shares close 1 pc higher after Q3 earnings

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New Delhi, Jan 28 (PTI) Shares of Tata Coffee Ltd on Thursday closed with a gain of nearly 1 per cent after the firm reported a 20 per cent increase in its consolidated net profit for the quarter ended December.

The stock, which jumped 3.80 per cent to Rs 115.80 during the day on BSE, later closed at Rs 112.55, a gain of 0.90 per cent.

On NSE, it closed 0.81 per cent higher at Rs 112.20.

Tata Coffee Ltd on Wednesday reported a 20 per cent increase in its consolidated net profit at Rs 50.18 crore for the quarter ended December on higher income.

Its net profit stood at Rs 41.99 crore in the year-ago period.

Total income rose to Rs 538.19 crore in the third quarter of this financial year from Rs 505.75 crore in the corresponding period of the previous year, the company said in a regulatory filing.

The rise in income is driven by improved performance from the group's value-added businesses, Tata Coffee said. PTI SUM RUJ RUJ