Tata Chemicals’ consolidated Profit for Q3 is ₹161 Crs
Standalone Profit for the period stood at ₹116 Cr
cityairnews
Jan 28, 2021 11:38
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Chandigarh: Tata Chemicals today declared its financial results for the quarter ended 31 December, 2020. The Company reported income from operations on consolidated basis at ₹2,606 Cr, down by 0.7% as compared to ₹2,623 Cr of the corresponding quarter of previous fiscal. PAT reported for equity shareholders, from continued operations, on consolidated basis stood at ₹161 Cr, down Rs 6 Crs from same period last year.
On a standalone basis, the income from operations rose by 7% to ₹812 Cr, as compared to ₹759 Cr of the corresponding quarter of last year. PAT, from continued operations stood at ₹116 Cr, compared to Rs 137 Crs for the same period last year.
The Company’s income from operations on consolidated basis for Basic Chemistry Products segment stood at ₹1,987 Cr, down by 1% and Specialty Products segment at ₹618 Cr, up by 2%, as compared to the corresponding quarter of last year.
Commenting on the results, Mr. R. Mukundan, Managing Director & CEO, Tata Chemicals Ltd., said, “During Q3, we have witnessed sequential improvement in demand, even as we navigate the margin pressures through agile execution of cost efficiencies. While we are focusing on business continuity, the health and safety of our employees and partners still remain our priority. In the coming quarters, we expect a greater recovery in production and demand, given the commencement of the vaccination drive in India. Our business strategy going forward will be scaling up the value chain across our verticals with increased efforts towards R&D and innovation.”
