TATA Chemicals reports Q2FY21 earnings

Tata Chemicals today declared its financial results for the quarter ended 30 September, 2020. The Company reported income from operations on consolidated basis at Rs. 2,609 Cr, up by 11% as compared to Rs. 2,348 Cr of June quarter of FY2021. PAT reported on consolidated basis at Rs. 132 Cr, up by 78%, as compared to Rs. 74Cr of the June quarter of FY2021.

On a standalone basis, the income from operations rose by 14% to Rs. 717 Cr, as compared to Rs. 628 Cr of the June quarter of FY2021. PAT on standalone basis was Rs. 135 Cr, up by 24%, as compared to Rs. 109 Cr for June quarter of FY2021.

The Company's results by reporting segment showed income from operations for the Basic Chemistry Products at Rs. 1,839 Cr, up by 10%, and Specialty Products at Rs. 766 Cr, up by 13%, as compared to June quarter of FY2021.

Commenting on the results, Mr. R. Mukundan, Managing Director & CEO, Tata Chemicals Ltd., said, "With the country gradually reopening, we are witnessing the revival of the chemical sector and customer demand. Our plant operations and capacity utilisation have gained momentum and are getting back to the pre-COVID levels. While we are scaling up our operations and ensuring business continuity, the health and safety of our employees and customers will remain our priority. In the coming quarters, we are aiming to move up the value chain with our business strategy concentrating on four verticals - performance materials, nutritional sciences, agro sciences and energy sciences, while maintaining cash flow and cash balances."

Shares of TATA CHEMICALS LTD. was last trading in BSE at Rs.325.6 as compared to the previous close of Rs. 322.1. The total number of shares traded during the day was 323380 in over 5932 trades.

The stock hit an intraday high of Rs. 331.4 and intraday low of 318.5. The net turnover during the day was Rs. 104740553.

Source : Equity Bulls

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