New Delhi. After the release of the results of Tata Consumer Products Ltd., TCPL, there is tremendous profit booking in the shares of the company from the investors. The company’s stock is trading with a decline of over 5 per cent. While the company saw consolidated net profit of Rs 74.35 crore in quarterly results. This profit has been seen due to double-digit growth in domestic business. According to experts, the results of the company are being seen only according to estimates.
Also read: Share market picks up; Sensex rises 400 points; Adani Transmission shares up 3%
Company Quarterly Results
TCPL, earlier known as Tata Global Beverages Limited, released the quarterly results on Thursday, telling the Sensex that the company had incurred a loss of Rs 122.48 crore in the same quarter of FY 2019-20. The total income of the company has increased by 26.29 per cent to Rs 6,902.01 crore. 2,405.03 crore was seen in the same quarter of 2019-20 a year ago. TCPL Group Chief Financial Officer L. Krishna Kumar said in a media report that our food and beverage business in India grew by 20 percent in the January-March quarter. The digitalization of sales and distribution is a major contributor to this. The board of the company has recommended a dividend of Rs 4.05 on a face value of one rupee a share.
Also read: APU Report: Corona epidemic pushed 23 crore Indians into poverty
No quarterly results for investors
At the same time, the shares are seeing a tremendous decline after the quarterly results of the company. Currently, at 10.30 am, the company’s stock is trading at Rs 621 per share, down by 5 per cent, ie Rs 32.40. Whereas the company’s stock opened at Rs 635 today and reached an all-day high of Rs 641.90. Let us tell you that the company’s stock closed at Rs 653.40 on Thursday.
Also read: Petrol Diesel Price Today: Petrol and Diesel Price Rs 1 in Four Days; Know Today’s Price
Loss in excess of three thousand crore rupees
Today, the company’s shares are seeing a decline of 5 percent. The market cap of the company has seen a decline of more than 3 thousand crore rupees during the business till date. In fact, the company’s market cap was Rs 60223.90 crore on Thursday. Currently, it has come to Rs 57,196.11 crore.