By: ICN Bureau
Last updated : January 29, 2021 11:25 am
Profit After Tax (PAT) on a consolidated basis stood at Rs. 161 crore, down Rs 6 crore from the same period last year.
Tata Chemicals reported Q3 income from operations on a consolidated basis at Rs. 2,606 crore down by 0.7% as compared to Rs. 2,623 crore of the corresponding quarter of the previous fiscal.
Profit After Tax (PAT) on a consolidated basis stood at Rs. 161 crore, down Rs 6 crore from the same period last year.
On a standalone basis, the income from operations rose by 7% to Rs. 812 crore as compared to Rs. 759 crore of the corresponding quarter of last year. PAT from continued operations stood at Rs. 116 crore compared to Rs. 137 crore for the same period last year.
The company’s income from operations on a consolidated basis for Basic Chemistry Products segment stood at Rs. 1,987 crore, down by 1% and Specialty Products segment at Rs. 618 crore up by 2%, as compared to the corresponding quarter of last year.
Commenting on the results, R. Mukundan, Managing Director & CEO, Tata Chemicals 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.”
Domestic demand for Soda Ash and Bicarb continued to improve and stabilised in Q3. It is likely to remain steady in Q4. Soda Ash demand from detergent was slightly muted and cement demand improved with good volume growth, particularly after mid-November.
Branded bicarb witnessed a pickup in demand. Continue to maintain strong market shares and command premium in the market. Agri Sciences (Rallis India) continued up-stocking of raw materials to avert production disruptions due to potential supply chain issues.