The shares of India’s largest cafe operator rose 7.6 percent to Rs 39 each on Wednesday over the company’s strong June Quarter financial performance.
Coffee Day Enterprises Ltd shares closed at Rs 39, up Rs 2.15 or 5.83 percent on Wednesday on the National Stock Exchange, The company has a market capitalization of Rs 823 crore.
The company reported consolidated revenue increased by 17 percent to Rs 247 crore in Q1FY24, compared to Rs 210 crore in the same quarter last year, while net profit increased to Rs 24 crore in the latest quarter, compared to a loss of Rs 21 crore in the same quarter last year.
In comparison to the previous quarter (Q4 FY 22-23), operational revenue increased from 240 crores in Q4FY23 to 247 crores in Q1FY24, Further net profit declined from 35 crores to 24 crores.
According to the recent shareholding pattern, the promoters own 9.83 percent of the company, while public investors hold 86.93 percent.
Coffee Day Enterprises Ltd is the holding company of the Coffee Day Group. The Group operates in the coffee retail and export sector, as well as hospitality and consulting services.
Written by Omkar Chitnis
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