Tata Chemicals shares fall by 8% following tepid March quarter results


LAST UPDATED: May 4, 2021, 2:49 p.m.

New Delhi (Anish Yande): Shares of Tata Chemicals fell by 9 percent on Tuesday’s trading session. The shares of chemicals manufacturer declined following the announcement of its tepid results for the quarter ended March 2021.

Tata Chemicals’ share opened at Rs 750 per share from its previous close of Rs 783.15 per share on Monday. The shares of Tata Chemicals rose to an intraday high of Rs 757.80 per share. Chemicals manufacturer shares then decline to an intraday low of Rs 721.20.

Tata Chemicals March quarter results:

Tata Chemicals reported a declined in net profit in the March quarter of FY21. The net profit of the chemicals manufacturer was at Rs 29 crore in the quarter ended March 31, 2021. The corresponding quarter of the previous fiscal was recorded at Rs 198 crore. The net profit of Marico fell by 85 percent year-on-year basis.

Director and CEO R Mukundan, Tata Chemicals, had stated that the chemicals manufacturers were tepid as a result of an impact on US operations which was caused by an increase in gas prices.

The income from operations from was at Rs 2,378 crore in the quarter ended March 2020 quarter. The operational income of the company rose by 11 percent to Rs 2,636 crore in the March quarter of 2021.

ICICI Bank operational performance in Q4FY21:

The consolidated profit after tax fell to Rs 436 crore in FY21. Consolidated PAT was posted at Rs 1,028 crore in FY20. The consolidated profit after tax declined by 58 percent in the March quarter of 2021 as compared to the corresponding quarter of the previous fiscal.

For the previous fiscal year, income from operations was at Rs 10,357 crores which declined by 1.51 percent at Rs 10,200 crore. The earnings before interest, tax, depreciation, and amortization (EBITDA) were at Rs 1,501 crore, which had slipped by 23 percent as compared to the previous quarter.

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