Tata Chemicals Limited today declared its financial results for the quarter ended June 30, 2023, the company announced through an exchange filing.
On a consolidated basis, for the quarter, the revenue from operations stood at Rs 4,218 crore, as compared to Rs 3,995 crore in the corresponding quarter of last year. EBITDA on a consolidated basis, stood at Rs 1,043 crore for the quarter, as compared to Rs 1,015 crore in for the corresponding quarter of last year. PAT from continuing operations on a consolidated basis, stood at Rs 578 crore, for the quarter, as compared to Rs 641 crore 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 crore, as compared to Rs 1,225 crore in for the corresponding quarter of last year. PAT on a standalone basis stood at Rs 328 crore, as compared to Rs 381 crore for the corresponding quarter of last year.
As on 30 June 2023, consolidated gross debt dropped to Rs 5,873 crore, as compared to Rs 6,296 crore as on 31 March 2023. Also, as on 30 June 2023, cash & cash equivalents stood at Rs 1,544 crore, as compared to Rs 2,398 crore as on 31 March 2023.
Consolidated Highlights Q1FY24
i) Consolidated Revenue from operations stood at Rs 4,218 crore, up 6 percent, as compared to Rs 3,995 crore for corresponding quarter of last year.
ii) Consolidated Profit After Tax from continuing operations (pre-MI) was Rs 578 crore, down by 10 percent as compared to Rs 641 crore for corresponding quarter of last year.
iii) Company’s gross debt as on June 30, 2023 reduced to Rs 5,873 crore.
iv) Rallis India recorded consolidated revenues of Rs 782 crore for the quarter ended 30 June 2023, a decrease of 9 percent as compared to Rs 863 crore for corresponding quarter of last year.
Standalone Highlights Q4 FY23
i) Standalone Revenue from operations stood at Rs 1,135 crore, down by 7 percent, as compared to Rs 1,225 crore for corresponding quarter of last year.
ii) Standalone Profit After Tax from continuing operations was Rs 328 crore as compared to Rs 381 crore for corresponding quarter of last year.
“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. 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," said R. Mukundan, Managing Director & CEO, Tata Chemicals Ltd.
Tata Chemicals Limited shares
The shares of Tata Chemicals Limited on Monday at 3:30pm IST were at Rs 1,040, down by 0.71 percent.
