Tata Chemicals Ltd, an Indian chemicals manufacturer announced its results for the third quarter and nine months ended Dec 31, 2022.
Q3 Results- QoQ
The company’s net profit dropped by 37.7% to Rs 3.91 billion for the period ended Dec 31, 2022 as against net profit of Rs 6.28 billion for the previous quarter.
Net sales declined 2.6% to Rs 41.85 billion during the period ended Dec 31, 2022 as compared to Rs 42.99 billion during the previous quarter.
Q3 Results- YoY
The company reported 25.7% increase in net profit to Rs 3.91 billion for the period ended Dec 31, 2022 as against net profit of Rs 3.11 billion for the prior-year quarter.
Net sales grew 31.6% to Rs 41.85 billion during the period ended Dec 31, 2022 as compared to Rs 31.80 billion during the prior-year quarter.
“The global demand-supply situation continues to be balanced and an improving demand bias, driven by reopening and stabilisation of economic activity including newer applications like solar glass, resulted in stable realisations. We continue our focus on executing expansion projects. Our digital and sustainability transformation agenda continues in partnership with our customers and other stakeholders,” R Mukundan, MS & CEO, Tata Chemicals, said.
9 Months – YoY
The company reported 96.1% growth in net profit to Rs 16.08 billion for the period ended Dec 31, 2022 as against net profit of Rs 8.20 billion for the prior-year 9 months period.
Net sales increased 34.8% to Rs 125.25 billion during the period ended Dec 31, 2022 as compared to Rs 92.91 billion during the 9 months period last year.
Tata Chemicals Ltd is a leading player in the Indian chemical industry engaged in the manufacture and sale of chemicals, crop protection and specialty chemistry products.