Tata Chemicals gallops after Q1 PAT climbs 86% YoY to Rs 641 cr

10 Aug 2022 , 09:43 AM

The operating performance reflects improved realisations, efficient cost management and optimum capacity utilization in challenging market conditions, and in the context of rising input and energy costs. Consolidated profit before tax stood at Rs 797 crore in the quarter ended June 2022, rising 86.21% from Rs 428 crore in the same period last year. EBITDA climbed 68.69% YoY to Rs 1,015 crore in Q1 FY23. The companys revenue form Basic Chemistry Products was at Rs 3,060 crore (up 40.75% YoY) and that from Specialty Products stood at Rs 934 crore (up 17.19% YoY), during the period under review. Tata Chemicals said that the soda ash realizations have increased across units and in particular, the US and Kenya export pricing remains strong and firm. Cost environment is challenging and likely to stay at elevated levels in the near term. Realisations in UK market moved in line with sharp input cost increases, it added. Rallis India, its subsidiary, recorded a consolidated revenues of Rs 863 crore for the quarter ended 30 June 2022, registering a growth of 16% from Rs 741 crore reported in the corresponding quarter previous year. Net profit tumbled 18.29% YoY to Rs 67 crore in the quarter ended 30 June 2022. Rallis continues its focus to launch newer products and reduce dependence on imported intermediates; started developing domestic suppliers for certain items Commenting on the results, R. Mukundan, managing director & CEO of Tata Chemicals, said, ?The global demand environment continues to be positive across our products and their applications. While this positive momentum is expected to continue in the near to medium term, the input side environment especially energy remain at elevated levels coupled with logistic challenges that continue to be seen in the market. The team has shown agility and has responded well by staying close to customers and supply chain partners. We continue our long term focus on excellence by leveraging digitalization and sustainability. In addition to operational excellence, we continue to focus on executing growth capex.? On standalone basis, the companys net profit (from continuing operations) soared 67.11% to Rs 381 crore on 47.95% surge in revenue from operations to Rs 1,225 crore in Q1 FY23 over Q1 FY22. Growth in the standalone revenue is largely driven by higher realizations across product portfolio. Tata Chemicals is a part of the Tata Group. TCLs business segments include basic chemistry products, salt making facility and specialty products. Powered by Capital Market – Live News