Tata Chemicals Ltd., a leading chemicals manufacturer based in India announced its results for the third quarter ended December 31, 2021.
Q3 Results- QoQ
The company’s net profit grew 40.3% to Rs 3.1 billion for the period ended December 31, 2021 as against net profit of Rs 2.21 billion for the previous quarter.
Net sales grew 3.3% to Rs 31.8 billion during the period ended December 31, 2021 as compared to Rs 30.79 billion during the previous quarter.
Q3 Results- YoY
The company’s net profit grew 92.9% to Rs 3.1 billion for the period ended December 31, 2021 as against net profit of Rs 1.61 billion during the prior-year quarter.
Net sales increased 20.1% to Rs 31.8 billion during the period ended December 31, 2021 as compared to Rs 26.48 billion during the prior-year quarter.
Tata Chemicals Managing Director and CEO R Mukundan said, “With the re-opening of businesses in all markets, the overall demand environment continues to be positive.”
He added that while this positive demand momentum is expected to continue, the input supply-side environment especially energy costs remain high compared to historical levels, and supply chain challenges continue to be seen in the market.
The company continues with its long-term focus on excellence by leveraging digitalisation and sustainability, said Mukundan.
“In addition to the operational excellence, we continue to focus on executing the growth capex (capital expenditure) in India,” he added.
Tata Chemicals Ltd is engaged in the business of manufacture and selling soda ash, soda bicarbonate, cement, salt, marine chemicals and crushed refined soda.