Although revenue rose to Rs 4,218 crore, Tata Chemicals' Q1 net profit fell by 12% to Rs 523 crore

For the first quarter that ended on June 30, 2023, Tata Chemicals Ltd. recorded a net profit of Rs. 523 crore, an 11.8% YoY drop.

Tata Chemicals had a net profit of Rs 593 crore for the comparable period last year, the company stated in a regulatory filing.

Consolidated revenue from operations for the quarter was Rs 4,218 crore, up 5.6% from Rs 3,995 crore for the same time the year before.

EBITDA climbed by 2.8% to Rs 1,043 crore in the first quarter of the current fiscal year compared to Rs 1,015 crore at the same time last year.

In the reporting quarter, the EBITDA margin was 24.7%, down from 25.4% in the same period of the prior fiscal year. 

The revenue for the quarter was Rs. 1,135 crore on a stand-alone basis, down from Rs. 1,225 crore in the equivalent period of last year. On a standalone basis, profit after tax (PAT) was Rs 328 crore as compared to Rs 381 crore for the same period the previous year.

Consolidated gross debt was Rs 6,296 crore as of March 31, 2023, however, it was just Rs 5,873 crore as of June 30, 2023. Additionally, cash and cash equivalents were at Rs 1,544 crore on June 30, 2023, as compared to Rs 2,398 crore on March 31, 2023.

For the quarter that ended on June 30, 2023, Rallis India reported consolidated revenues of Rs 782 crore, a 9% reduction from Rs 863 crore for the similar quarter the previous year.

The results were announced after the market had closed.

Source: Media Reports