Tata Chemicals reported its earnings for the quarter ended June on Monday evening.
What Happened: The company’s net profit for the quarter went down around 67% to ₹190 crore, compared to the ₹587 crore profit posted in the same quarter last year. The company’s revenue from operations stood at ₹3,789 crore, down around 10% from the ₹4,218 crore revenue posted in the corresponding quarter of the previous year.
The numbers were mostly in line with Bloomberg estimates. The analysts had predicted around ₹3,760 crore in revenue with a net profit of around ₹191 crore.
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The basic chemistry products segment posted revenue of around ₹2,972 crore, down around 12% from the ₹3,386 crore posted in the same quarter last year. Speciality products segment’s revenue moderated to ₹817 crore from the ₹833 crore reported in the year-ago period.”
Price Action: Tata Chemicals’ share price was down 3.1% to close at ₹1,053.25 on Monday.
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