Tata Chemicals Q2FY23 PAT up 184% yoy at Rs628 crore on account of exceptional gains from restructuring

28 Oct 2022 , 09:31 AM

Tata Chemicals Ltd reported 40.27% growth in total revenues for the September 2022 quarter on consolidated basis at Rs4,239cr.

Revenue increase was 6.11% in sequential terms. In terms of verticals, basic chemistry products saw sales grow 45.2% at Rs3,242 crore while the specialty products sales were up 27% at Rs999 crore.

Improved realizations across US, UK and Kenya in the quarter were driven by robust soda ash prices.

Robust demand has resulted in increased realizations in the quarter, which has managed to offset the spike in raw material costs in the quarter. The company is also focusing deleveraging balance sheet.

Consolidated Profit after tax (PAT) for September 2022 quarter was up 184.16% at Rs628 crore and it was up 6.62% on sequential basis.

Operating profits from basic chemistry products triggered the spike by 1312% yoy. But the real thrust to the profit growth came from the exceptional gains of Rs676 crore in Q2FY23 on account of the restructuring undertaken and discontinued operations.

Exceptional gains more than doubled yoy. Net profit margins at 14.81% in Q2FY23 is higher compared to 7.31% in Q1FY22 and 14.74% in Q1FY23.

Financial highlights for Sep-22 compared yoy and sequentially

	Tata Chemicals
Rs in Crore	Sep-22	Sep-21	YOY	Jun-22	QOQ
Total Income (Rs cr)	₹ 4,239.00	₹ 3,022.00	40.27%	₹ 3,995.00	6.11%
Net Profit (Rs cr)	₹ 628.00	₹ 221.00	184.16%	₹ 589.00	6.62%
Diluted EPS (Rs)	₹ 24.65	₹ 8.68		₹ 23.12
Net Margins	14.81%	7.31%		14.74%