Tata Chemicals Ltd., India’s leading basic chemicals manufacturer announced its results for the second quarter ended September 30, 2020.
Q2 Results- QoQ
The company’s net profit grew 78% to Rs 132.09 crores for the period ended September 30, 2020 as against net profit of Rs 74.15 crores for the previous quarter.
Net sales increased 11% to Rs 2609.35 crores during the period ended September 30, 2020 as compared to Rs 2348.16 crores during the previous quarter.
Q2 Results- YoY
The company’s net profit dropped 65.2% to Rs 132.09 crores for the period ended September 30, 2020 as against net profit of Rs 379.09 crores for the prior-year quarter.
Net sales declined 6% to Rs 2609.35 crores during the period ended September 30, 2020 as compared to Rs 2771.27 crores during the prior-year quarter.
Half-Year Results- YoY
The company’s net profit declined 66.2% to Rs 206.24 crores for the 6 months period ended September 30, 2020 as against net profit of Rs 609.82 crores for the prior-year 6 months period.
Net sales decreased 7.4% to Rs 4957.51 crores during the 6 months period ended Septem-ber 30, 2020 as compared to Rs 5355.3 crores during the prior-year 6 months period.
“With the country gradually reopening, we are witnessing the revival of the chemical sector and customer demand. Our plant operations and capacity utilisation have gained momentum and are getting back to the pre-COVID levels. While we are scaling up our operations and ensuring business continuity, the health and safety of our employees and customers will remain our priority,” Tata Chemicals Managing Director and CEO R Mukundan said.
“In the coming quarters, we are aiming to move up the value chain with our business strategy concentrating on four verticals – performance materials, nutritional sciences, agro sciences and energy sciences, while maintaining cash flow and cash balances,” he added.