TATA Chemicals records healthy Q2 earnings with PAT rising by a whopping 78% yoy to Rs132cr

The company’s consolidated revenue from operations rises 11% yoy to Rs2,609cr. Standalone Revenue from Operations for the period stood at Rs717cr.

Oct 30, 2020 08:10 IST India Infoline News Service

Tata Chemicals on Thursday declared its financial results for the quarter ended 30 September 2020. The company reported income from operations on a consolidated basis at Rs2,609cr up by 11% as compared to Rs2,348cr of June quarter of FY21. PAT reported on a consolidated basis at Rs132cr, up by 78%, as compared to Rs74cr of the June quarter of FY21.

On a standalone basis, the income from operations rose by 14% to Rs717cr, as compared to Rs628cr of the June quarter of FY21. PAT on a standalone basis was Rs135cr, up by 24%, as compared to Rs109cr for June quarter of FY21.

The company’s results by reporting segment showed Income from operations for the Basic Chemistry Products at Rs1,839cr, up by 10%, and Specialty Products at Rs766cr, up by 13%, as compared to June quarter of FY21.

“With the country gradually reopening, we are witnessing the revival of the chemical sector and customer demand. Our plant operations and capacity utilisation have gained momentum and are getting back to the pre-Covid levels. While we are scaling up our operations and ensuring business continuity, the health and safety of our employees and customers will remain our priority.

In the coming quarters, we are aiming to move up the value chain with our business strategy concentrating on four verticals - performance materials, nutritional sciences, agro sciences and energy sciences, while maintaining cash flow and cash balances,” R. Mukundan, Managing Director & CEO, Tata Chemicals Ltd., said.

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