MUMBAI: Tata Chemicals on Thursday reported a nearly three-fold jump in consolidated net profit to Rs 628 crore for the September 2022 quarter on higher income.
The company’s profit stood at Rs 221 crore in the same quarter a year ago, Tata Chemicals said in a regulatory filing.
The net income rose 39.62 per cent to Rs 4,299 crore during the quarter under review against Rs 3,079 crore in the corresponding period of the last year.
The expenses increased to Rs 3,623 crore during the second quarter from Rs 2,805 crore in the year-ago period.
The company said that soda ash prices continue to remain robust across geographies, resulting in improved realisations in the US, UK and Kenya.
The cost environment is stabilising and likely to stay at the current levels in the near term, Tata Chemicals added.
“We continue to work closely with our customers and partners to navigate the challenging global environment. The demand continues to be positive across our products and their applications, which has resulted in improved realisations compared to the previous year. We continue our focus on deleveraging and executing expansion projects,” Tata Chemicals Managing Director and CEO R Mukundan said.
Shares of the company on Thursday closed at Rs 1,188.05, up 0.67 on the BSE.
The company’s profit stood at Rs 221 crore in the same quarter a year ago, Tata Chemicals said in a regulatory filing.
The net income rose 39.62 per cent to Rs 4,299 crore during the quarter under review against Rs 3,079 crore in the corresponding period of the last year.
The expenses increased to Rs 3,623 crore during the second quarter from Rs 2,805 crore in the year-ago period.
The company said that soda ash prices continue to remain robust across geographies, resulting in improved realisations in the US, UK and Kenya.
The cost environment is stabilising and likely to stay at the current levels in the near term, Tata Chemicals added.
“We continue to work closely with our customers and partners to navigate the challenging global environment. The demand continues to be positive across our products and their applications, which has resulted in improved realisations compared to the previous year. We continue our focus on deleveraging and executing expansion projects,” Tata Chemicals Managing Director and CEO R Mukundan said.
Shares of the company on Thursday closed at Rs 1,188.05, up 0.67 on the BSE.
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