Tata Chemicals Profit Falls By 54%, Hit by Lower Prices and Volumes

OM Prakash
2 Min Read
Tata Chemicals Limited

Tata Group company Tata Chemicals Limited released its December quarter results on Monday. Tata Chemicals Limited’s net profit declined by 54% in the December quarter. The soda ash maker’s profit fell to Rs 194 crore in the October-December quarter from Rs 425 crore in the year-ago period, according to an exchange filing released on Monday. The Tata Group chemical firm’s revenue also fell more than 10% year-on-year to ₹3,730 crore in the quarter ending December 31, 2023. Its revenue in the same quarter a year ago was ₹4,148 crore.

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EBITDA Fell 41.2% Year-On-Year

Tata Chemical’s EBITDA fell 41.2% year-on-year to ₹542 crore in the quarter under review, while margins contracted 14.5%. The filing said Tata Chemicals’ performance is lower than PY’s due to pricing pressure and lower volumes across sectors. Volumes are down by 80,000 metric tonnes, particularly in the US, due to plant closures and rail car shortages. This has also affected the quarterly results. The company said its gross debt as of December 31, 2023, stood at Rs 5,912 crore.

Status Of Company’s Shares

Shares of the company fell more than 2% to an intraday low of Rs 976 on the BSE today. This stock has fallen 11% in the last month and 12% in YTD this year. Its 52-week high price reached Rs 1,140.95, and its 52-week low price reached Rs 922.20. Its market cap is Rs 24,964.84 crore.

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