Tata Chemicals Q2 net profit falls 55% to Rs 194 crore

Tata Chemical substances on Thursday reported a 54.67 per cent decline in its consolidated web revenue at Rs 194 crore in the course of the second quarter ended September 2024. The corporate’s web revenue stood at Rs 428 crore in the course of the corresponding interval of the earlier fiscal, Tata Chemical substances stated in a regulatory submitting.

Income from operations of the corporate was flat in the course of the quarter below evaluation at Rs 3,999 crore in comparison with Rs 3,998 crore throughout the identical interval of FY24.

“Total demand for soda ash in India was steady, whereas some segments like container glass in Americas and Europe skilled muted demand.

“Unprecedented heavy rains in July and August impacted Mithapur operations resulting in decrease manufacturing as in comparison with the earlier quarter, thus impacting margins,” Tata Chemical substances Managing Director and CEO R Mukundan stated.

Nevertheless, he stated, the corporate’s general efficiency was higher as in comparison with earlier quarter resulting from larger gross sales quantity, coupled with larger realisation of soda ash.

“Our focus is on buyer engagement and steady operations, whereas guaranteeing regular contribution margins with a give attention to prices. We proceed to work with our clients and different stakeholders on our sustainability and digitisation efforts,” he added.

Shares of the corporate on Thursday closed at Rs 1,073.70, down 2.41 per cent on BSE.