Tata Chemicals Q4 results: PAT drops to Rs 198 crore
Tata Chemicals Q4 results:
Yesterday (May 15th), Tata Chemicals announced the consolidated profit after tax (PAT) decrease in Rs 198 crore by 48% for the quarter ended March 2020.
In a release, the company’s profit after tax amounted to Rs 383 crore in the corresponding quarter a year ago.
Revenues decreased by 7% to Rs 2,378 crore in the same quarter of FY19 compared with Rs 2,561 crore. Tata Chemical’s profit after tax decreased 12% to Rs 1,028 crore in the year ended 31st March compared with Rs 1,163 crore in the previous financial year.
In FY20 the revenues nearly flat in Rs 10,357 crore, compared to Rs Rs 10,337 crore in 2018-19.
“In the period, the pandemic impacted parts of our operations and supply chain. However, we are also seeing it as an opportunity to improve our business capacity and review our strategic plan, “said R. Mukundan, CEO of Tata Chemicals.
“All products in India with an additional emphasis on salt and bicarb are manufactured by Mithapur as both products come under essential commodities,” he said.
At the same time, he continued that the company would meet customer demand to ensure agility in its operations by concentrating renewedly on product supply, cash position, optimum capital expenditure, and reducing fixed costs.
“The global recovery, though we continue to work closely with our customers so that they can get back on track at the earliest opportunity, will remain our priority areas as the world recovers from the pandemic situation.”
Besides, on May 15th the share of Tata Chemicals Limited traded with the bullish trend. It traded with a gain of 1.15 points reached 293.85 INR with 0.39% up in NSE. Whereas in BSE, it traded with a gain of 0.35 points reached 293.20 INR with 0.12% up.
May 15th Stock Market Top Gainers and Losers
May 15th Stock Market: On the fifth day of the week, the stock market trading with the bearish trend. The Sensex traded with a loss of 25.16 points reached a 31,097.73 level with 0.081% down. Whereas, Nifty traded with a loss of 5.90 points reached 9,136.85 level with 0.06% down.
In the border market, the S&P BSE Midcap traded with a loss of 35.79 points reached 11,500.32 level with 0.31% down. Whereas, S&P BSE SmallCap traded with a loss of 17.62 points reached 10,688.86 level with 0.16% down. At the same time, Nifty bank traded with a loss of 234.55 points reached 18,833.95 with 1.23% down.
Top Gainers: Vedanta, Bharti Airtel, Bharat Petroleum Corp, Asian Paints, and Tata Motors Ltd.
Top Losers: Mahindra & Mahindra, Zee Entertainment Enterprises, Axis Bank, Bharti Infratel, and UPL Ltd.