Shares of Tata Chemicals rose over 6 percent on Friday after the company reported a good set of results in its first quarter this fiscal. Consolidated revenue from operations increased 6 percent year-on-year (YoY) at Rs 2,897 crore as against Rs 2,744 crore in the corresponding quarter last year. Net profit surged 19 percent YoY to Rs 313 crore as compared to Rs 262 crore last year.
At 10:00 AM, Tata Chemicals shares were trading higher by 4.16 percent to Rs 588 per share on the NSE. Intraday, the stock price rose 6.64 percent to Rs 602.
Earnings before interest, tax, depreciation and amortisation (EBITDA) rose 21 percent YoY during June quarter, to Rs 592 crore.
The company's gross debt stood at Rs 6,334 crore as of June, 2019. Cash & cash equivalents and net debt were at Rs 4,463 crore and Rs 1,871 crore respectively as on June, 2019.
Tata Chemicals managing Director R Mukundan said, "The company has posted healthy growth on a consolidated basis across all segments. The company will continue to be most cost-efficient in soda ash, bicarbonate and salt businesses."
He further added, "Our investment in a bicarbonate unit in the UK using innovative carbon capture process and Mithapur plant expansion will provide significant thrust to our growth."
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First Published: Aug 9, 2019 10:08 AM IST
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