Tata Chemicals Limited today declared its financial results for the quarter ended June 30, 2023. On a consolidated basis, for the quarter, the revenue from operations stood at Rs 4,218 Cr, as compared to Rs 3,995 Cr in the corresponding quarter of last year. EBITDA on a consolidated basis, stood at Rs 1,043 Cr for the quarter, as compared to Rs 1,015 Cr in for the corresponding quarter of last year. PAT from continuing operations on a consolidated basis, stood at Rs 578 Cr, for the quarter, as compared to Rs 641 Cr in for the corresponding quarter of last year. The Company’s performance reflects better realisations partly impacted by lower volumes.
For the quarter, on a standalone basis, the revenue stood at Rs 1,135 Cr, as compared to Rs 1,225 Cr in for the corresponding quarter of last year. PAT on a standalone basis stood at Rs 328 Cr, as compared to Rs 381 Cr for the corresponding quarter of last year.
As on 30 June 2023, consolidated gross debt dropped to Rs 5,873 Cr, as compared to Rs 6,296 Cr as on 31 March 2023. Also, as on 30 June 2023, cash & cash equivalents stood at Rs 1,544 Cr, as compared to Rs 2,398 Cr as on 31 March 2023.
Commenting on the results, Mr. R. Mukundan, Managing Director & CEO, Tata Chemicals Ltd., said,
“The Company has delivered a satisfactory performance during Q1FY24 as compared to Q1FY23 despite a challenging environment. The soda ash prices got adversely impacted as many customers delayed their purchasing decisions due to new supplies expected from Inner Mongolia, China. This was further impacted by slower growth in Chinese economy post-COVID and softening of industrial production in developed economies and this may persist in the near term. The Company had to adopt agile pricing to maximize volumes and ensure optimum utilization of capacity. We expect that the sustainability trend will continue to positively impact the demand for newer applications like solar glass and lithium in the medium to long term. Our focus is to ensure that we maintain our market share through customer engagement and continued agile pricing, and to ensure steady contribution margins with focus on costs”.
Consolidated Highlights Q1FY24
* Consolidated Revenue from operations stood at Rs 4,218 Cr, up 6%, as compared to Rs 3,995 Cr for corresponding quarter of last year
* Consolidated Profit After Tax from continuing operations (pre-MI) was Rs 578 Cr, down by 10% as compared to Rs 641 Cr for corresponding quarter of last year
* Company’s gross debt as on June 30, 2023 reduced to Rs 5,873 Cr
* Rallis India recorded consolidated revenues of Rs 782 Cr for the quarter ended 30 June 2023, a decrease of 9% as compared to Rs 863 Cr for corresponding quarter of last year.
Standalone Highlights Q4 FY23
* Standalone Revenue from operations stood at Rs 1,135 Cr, down by 7%, as compared to Rs 1,225 Cr for corresponding quarter of last year
* Standalone Profit After Tax from continuing operations was Rs 328 Cr as compared to Rs 381 Cr for corresponding quarter of last year
About Tata Chemicals Ltd.
A part of the US$ 128 billion Tata Group, Tata Chemicals Limited, is a leading supplier of choice to glass, detergent, industrial and chemical sectors. The company has a strong position in the crop protection business through its subsidiary company Rallis India Ltd. Tata Chemicals has world-class R&D facilities in Pune and Bangalore.
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