Tata Chemicals Ltd., a chemical manufacturer based in India announced its results for the first quarter ended June 30, 2021.
Q1 Results- QoQ
The company’s net profit grew 2347% to Rs 287.96 crores ($38.9 million) for the period ended June 30, 2021 as against net profit of Rs 11.77 crores ($1.6 million) for the previous quarter.
Net sales increased 12.3% to Rs 3031.53 crores ($409 million) during the period ended June 30, 2021 as compared to Rs 2700.72 crores ($364.4 million) during the previous quarter.
Q1 Results- YoY
The company’s net profit grew 2068.4% to Rs 287.96 crores ($38.9 million) for the period ended June 30, 2021 as against net profit of Rs 13.28 crores ($1.8 million) for the prior-year quarter.
Net sales increased 26% to Rs 3031.53 crores ($409 million) during the period ended June 30, 2021 as compared to Rs 2406.82 crores ($324.8 million) during the prior-year quarter.
Soda ash volumes showed sharp recovery in the US and India, the company said.
Income from operations during the first quarter for the Basic Chemistry Products segment grew 30% to Rs 2,173 crores ($293.2 million), while that from Specialty Products increased by 18% to Rs 797 crores ($107.5 million).
“Our priority continues to be the safety of our employees and ensuring business continuity. During the first quarter, we ensured agile servicing of customer demand and cost control.”
“The capacity expansion at our Mithapur and Rallis, Dahej in Gujarat, is on schedule. With the business environment steadily improving, we are well positioned to grow across customer segments,” Tata Chemicals Managing Director and CEO R Mukundan added.
Tata Chemicals Ltd is engaged in the business of manufacture and selling of soda ash, agrochemicals and other related basic chemicals.