Tata Coffee shares down 3% as Q4 net dips

Tata Coffee shares fell 3% after the company posted a 12.55% fall in consolidated net profit in fourth quarter of 2015-16 fiscal. 

The stock declined by 3% to Rs 89.15 on BSE. On NSE, the scrip went down by 2.99% to Rs 89.15. 

The company's result were announced post market hours on Monday. 

Tata Coffee reported a 12.55% fall in consolidated net profit to Rs 34.47 crore in the March quarter due to higher expenses. 

The company had posted a net profit of Rs 39.42 crore in the same quarter previous year, Tata Coffee had said in a regulatory filing. 

The net profit took a beating as the company's expenses rose by 6.47 per cent to Rs 388.98 crore in the January-March quarter of the 2015-16 fiscal from Rs 365.34 crore in the year-ago period.

However, the company's total income rose slightly to Rs 456.54 crore from Rs 451.51 crore in the said period. 

For full fiscal, Tata Coffee reported a fall in consolidated net profit by 2.11% to Rs 117.84 crore as against Rs 120.39 crore in the previous year.