Tata Coffee shares fell as much as 3 per cent on Tuesday after its net profit dropped 13 per cent to Rs 34 crore. Tata Coffee’s revenue was nearly flat at Rs 457 crore compared with Rs 451 crore in the year ago period.
Tata Coffee attributed the fall in net profit to the underperformance of its plantation segment.
Tata Coffee’s EBITDA or operating profit declined 16 per cent to Rs 82 crore led by nearly 350 basis points decline in its EBITDA margin.
As of 11.03 p.m., Tata Coffee shares traded 2.45 per cent lower at Rs 89.65 apiece compared to 0.62 per cent increase in the broader Sensex.