Tata Chemicals consolidated reports Q2FY23 PAT at Rs 685 cr

PAT on standalone basis stood at Rs 243 crore compared to Rs 135 crore for the corresponding quarter of last year.

The company reported income from operations for the quarter on consolidated basis at Rs 4,239 crore, up by 40 percent as compared to Rs 3,022 crore for the corresponding quarter of last year.

The operating performance reflects improved realisations and efficient cost management in the context of elevated energy and input costs.

On a standalone basis, the income from operations rose by 40 percent to Rs 1,185 crore, as compared to Rs 847 crore for the corresponding quarter of last year.

Commenting on the result R. Mukundan, Managing Director & CEO, Tata Chemicals Ltd, said, “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 realizations compared to previous year. We continue our focus on deleveraging and executing expansion projects.”

Standalone Highlights Q2 FY23

·       Standalone Revenue from operations stood at Rs 1,185 crore, up 40 percent, as compared to Rs 847 crore for corresponding quarter of last year

·       Standalone Profit After Tax from continuing operations was Rs 243 crore as compared to Rs 135 crore for corresponding quarter of last year

·       Soda Ash and Bicarb demand is robust across all application segments and is expected to remain firm in the near term

Consolidated Highlights Q2 FY23

·       Consolidated Revenue from operations stood at Rs 4,239 crore, up 40 percent, as compared to Rs 3,022 crore for corresponding quarter of last year

·       Consolidated Profit After Tax from continuing operations (pre-MI) was Rs 685 crore as compared to Rs 248 crore for corresponding quarter of last year

·       Soda ash prices continue to remain robust across geographies resulting in improved realisations in US, UK and Kenya

·       Cost environment is stabilizing and likely to stay at the current levels in the near term

·       Tata Chemicals (Soda Ash) Partners, our US subsidiary, has entered into a multi-year Logistics Services and Membership Withdrawal Agreement with American Natural Soda Ash Corporation (“ANSAC”).

This transition is part of Tata Chemicals’ approach to building a world-class integrated customer centric organization, from its locations in India, UK, Kenya and the USA

Rallis India recorded consolidated revenues of Rs 951 crore for the quarter ended 30 September 2022, an increase of 31 percent as compared to Rs 727 crore for corresponding quarter of last year.