Stocks of Tata Coffee on Monday soared 6.5 per cent after the company reported an over two-fold rise in consolidated net profit for the fourth quarter ended March.
The stock jumped 6.49 per cent to close at Rs. 96 on the BSE. During the day, it climbed 10.92 per cent to Rs. 100.
At the NSE, the stock ended at Rs. 96.25, up 6.47 per cent from its previous close.
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The company’s market value rose by Rs. 110 crore to Rs. 1,793 crore.
In terms of volume, 5.71 lakh shares of the company changed hands at the BSE and over 27 lakh shares were traded at the NSE during the day.
Tata Coffee had on Friday reported an over two-fold rise in its consolidated net profit at Rs. 39.42 crore for the fourth quarter ended March 31 on higher sales volume.
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The company had clocked a net profit of Rs. 16.32 crore in the same quarter of 2013-14.
Total income during the January-March quarter of 2014-15 increased to Rs. 450 crore from Rs. 397 crore in the same period of 2013-14 fiscal, the company had said in a BSE filing.
For the entire 2014-15 fiscal, the company’s consolidated profits increased to Rs. 120 crore as compared to Rs. 81 crore in the preceding year.
In the broader market, the BSE 30-share Sensex gained 363.30 points to end at 27,687.30.