Tata Chemicals reports 68% y-o-y decline in Q1 net profit

6 Aug 2024 , 12:30 PM

Tata Chemicals announced its results and reported a 67.6% YoY fall in net profit to ₹190 Crore for the first quarter ending June 30, 2024.

According to a regulatory filing, Tata Chemicals reported a net profit of ₹587 Crore for the quarter. The company’s revenue from operations decreased by 10.2% to ₹3,789 Crore from ₹4,218 Crore in the same period last fiscal year.

In Q1 of this fiscal year, EBITDA decreased by 45% to ₹574 Crore from ₹1,043 Crore the previous year. The EBITDA margin was 15.2% in the reporting quarter, compared to 24.7% in the first quarter of FY24.

As of June 30, 2024, the total gross debt stood at ₹6,376 Crore, up by ₹813 Crore sequentially. Net debt climbed to ₹4,789 Crore from ₹626 Crore, quarter-on-quarter, on account of higher working capital loans and lease capitalisation.

The standalone income for the quarter was ₹1,047 Crore compared to ₹1,090 Crore in the previous quarter. EBITDA reached ₹235 Crore, up from ₹192 Crore in the previous quarter. The profit after tax (PAT) was ₹256 Crore, up from ₹217 Crore in the preceding quarter.

At around 11.24 AM, Tata Chemicals was trading 0.92% higher at ₹1,062.95 per piece, against the previous close of ₹1,053.25 on NSE. The counter touched an intraday high and low of ₹1,078.40, and ₹1,049.05, respectively.

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