Gold Silver Reports (GSR) – Tata Coffee Falls After March Quarter Profit Slumps – Shares of the Bangalore-based coffee producer fell as much as 7.2 percent, the most in over three months, to Rs 123.70 after its profit in March quarter slumped.
Key earnings highlights:
📌 Net Profit down 86 percent at Rs 6.5 crore
📌 Revenue up 9 percent to Rs 440 crore
📌 EBITDA down 67 percent to Rs 37 crore
📌 EBITDA Margins at 8.5 percent versus 28.2 percent
Shares of the Mumbai-based based e-governance service provider fell for 11th straight day to hit its lowest level since Nov. 2015. The stock was locked in a 5 percent lower circuit at Rs 77.45. Its chartered accountant Price Waterhouse & Co resigned even before completing a year of auditing at the company.
Appointed at the annual shareholder meeting in September last year, PW did a standard limited review of the second and third quarters.