Q1 FY22 Income from Operations at Rs 2977 Crs up by 27% Consolidated PAT for the period at ₹342 Cr, up by 362%. Tata Chemicals today declared its financial results for the quarter ended 30th June, 2021. The Company reported income from operations on consolidated basis at ₹2,977 Cr, up by 27% as compared to ₹2,348 Cr of the corresponding quarter of last year. Consolidated PAT for the quarter was at ₹342 Cr, up by 362%, as compared to ₹74 Cr for corresponding quarter of last year. This was mainly due to rebound in Soda Ash volumes in US and India.
Consolidated Gross Debt stood at ₹ 7,284 Cr, as compared to ₹ 6,933 Cr as on Mar21. Also Cash & equivalent stood at ₹ 3,293 Cr, as compared to ₹ 3,104 Cr as on Mar21.
The Company’s results by reporting segments showed income from operations for the Basic Chemistry Products at ₹2,173 Cr, up by 30%, and Specialty Products at ₹797 Cr, up by 18%.
Commenting on the results, Mr. R. Mukundan, Managing Director & CEO, Tata Chemicals Ltd., said, “Our priority continues to be 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 Tata Chemicals, Mithapur and Rallis, Dahej is on schedule. With the business environment steadily improving, we are well positioned to grow across customer segments”.
Standalone Highlights Q1 FY22
· Soda ash sales are at pre covid levels. Soda ash demand is expected to be robust through the year.
· Salt and Bicarb production and sales remained healthy.
· The rebound in demand cushioned the impact of increasing energy and freight costs.
· Prebiotics (FOS), HDS Silica products continue to grow.
Consolidated Highlights Q1 FY22
· Demand rebounds in all markets. Prices in spot markets are up.
· Energy, logistic and carbon cost increase cushioned by volume growth.