Tata Chemicals' Q2FY23 PAT jumps 176.20% y-o-y at Rs685 crore; stock plunges ~5%

28 Oct 2022 , 09:57 AM

Tata Chemicals Limited has announced its financial results for the quarter ended September 30, 2022. The company reported consolidated income from operations of Rs4,239 crore for the quarter, up 40% yoy from Rs3,022 crore in the same quarter last year.

Consolidated PAT from continuing operations for the quarter was Rs685 crore, compared to Rs248 crore in the previous year’s corresponding quarter, up by 176.20% yoy. In the face of rising energy and input costs, the operating performance reflects improved realisations and efficient cost management.

As per the financial statements presented, the PAT attributable to shareholders was reported at Rs628 crore in Q2FY23, as compared to Rs221 crore in Q2FY22. While PAT from both continuing (Rs685 crore) and discontinuing operations (-Rs5 crore) was Rs680 crore in Q2FY23 as compared to Rs268 crore in Q2FY22.

On a standalone basis, income from operations increased by 40% yoy to Rs1,185 crore, compared to Rs847 crore in the same quarter last year. PAT on a standalone basis was Rs243 crore, up from Rs135 crore in the same quarter last year, a jump of 80% yoy.

Soda ash prices remain stable across geographies, resulting in higher realisations in the United States, the United Kingdom, and Kenya. Cost environment is stabilizing and likely to stay at the current levels in the near term, stated the company in its press release.

Rallis India reported consolidated revenues of Rs951 crore for the quarter ended September 30, 2022, a 31% yoy increase over Rs727 crore in the corresponding quarter last year.

At around 10.00 AM, Tata Chemicals was trading at Rs1,133 per piece, down by 4.63% from its previous closing of Rs1,188.05 on the BSE. The scrip opened at Rs1,189.95 and touched intraday high and low of Rs1,189.95 and Rs1,131 respectively.

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