Tata Chemicals on October 29 reported a 64 percent fall in consolidated net profit at Rs 132.09 crore for the quarter ended September. Its net profit stood at Rs 367.31 crore in the year-ago period.
Total income decreased to Rs 2,677.9 crore in the second quarter of this fiscal from Rs 2,861.35 crore in the corresponding period of the previous year, it said in a regulatory filing. 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," Tata Chemicals Managing Director and CEO R Mukundan said.In the coming quarters, the company is aiming to move up the value chain with business strategy concentrating on four verticals — performance materials, nutritional sciences, agro sciences and energy sciences, he added. A part of the over USD 110 billion Tata group, Tata Chemicals Ltd is a global company with interests in businesses that focus on basic and specialty chemistry products.