Tata Chemicals garner Q1 PAT of Rs342cr up 362% yoy on rebound in Soda Ash volumes in US and India

The company recorded income from operations on consolidated basis at Rs2,977 Cr, up by 27% as compared to Rs2,348 Cr of the corresponding quarter of last year.

Aug 06, 2021 08:08 IST India Infoline News Service

Tata Group-backed, Tata Chemicals posted a consolidated net profit of Rs342cr for the quarter ending June 2021 (Q1FY22) up by 362%, as compared to Rs74cr for corresponding quarter of last year. This was mainly due to rebound in Soda Ash volumes in US and India.

The company recorded income from operations on consolidated basis at Rs2,977 Cr, up by 27% as compared to Rs2,348 Cr of the corresponding quarter of last year.

R. Mukundan, Managing Director & CEO, Tata Chemicals Ltd., said, “Our priority continues to be safety of our employees and ensuring business continuity. During the first quarter, we ensured agile servicing of customer demand and cost control. The capacity expansion at Tata Chemicals, Mithapur and Rallis, Dahej is on schedule. With the business environment steadily improving, we are well positioned to grow across customer segments."

The Company’s results by reporting segments showed income from operations for the Basic Chemistry Products at Rs2,173cr, up by 30%, and Specialty Products at Rs797 Cr, up by 18%.

On Friday, the company stock will be in focus post Q1 results. In the previous day, the stock finished at Rs769.35 per piece up 0.8% on Sensex.

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