Tata Chemicals on Friday (November 10), reported a year-on-year (YoY) decline in its net profit by 27.1% at ₹495 crore against ₹680 crore. The company's total revenue also witnessed a downfall of 5.7% at ₹3,998 crore against ₹4,239 crore in the quarter that ended a year ago.
The margin of Tata Chemicals now stands at 20.5% against 21.7% a year ago. In the regulatory filing, the company said EBITDA is down 11% at ₹819 crore against ₹920 crore YoY.
“Demand environment for soda ash in domestic markets in India and the US was stable. In other markets, softness was observed, especially in container glass and flat glass sectors, leading to pricing pressure," managing director and CEO R Mukundan said in a statement.#2QWithCNBCTV18 | Tata Chemicals reports #Q2 earnings
- Net profit down 27.1% at ₹495 cr vs ₹680 cr (YoY)- Revenue down 5.7% at ₹3,998 cr vs ₹4,239 cr (YoY)- EBITDA down 11% at ₹819 cr vs ₹920 cr (YoY)- Margin at 20.5% vs 21.7% (YoY) pic.twitter.com/iuqHY5BjU4— CNBC-TV18 (@CNBCTV18Live) November 10, 2023
Tata Chemicals is in the business of selling its products to the detergent, glass, industrial, and chemical sectors. The results came after the close of the market hours. Shares of Tata Chemicals advanced 4.85 points, or 0.51 percent, to end at ₹963.95 on Friday.
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