Shares of chemicals and specialty products company Tata Chemicals fell nearly 4% in trade on February 4, after the company posted a net loss of Rs 21 crore for the third quarter ending December 2024.
Tata Chemicals' revenue from operations fell 3.8% to Rs 3,590 crore, compared to Rs 3,730 crore in the same period a year ago. At the operating level, EBITDA fell by 19.9% to Rs 434 crore in the third quarter, down from Rs 542 crore as year ago. The company reported a net loss compared to a net profit of Rs 194 crore in the same period last year.
Read about Stock Market updates LIVE
The EBITDA margin for the quarter stood at 12.1%, compared to 14.5% in the corresponding quarter of the previous fiscal year. EBITDA refers to earnings before interest, tax, depreciation, and amortisation.
Tata Chemicals’ gross debt stood at Rs 6,722 crore as of December 31, 2024, reflecting an increase of Rs 810 crore on-year, while the net debt rose by Rs 952 crore to Rs 5,329 crore, driven by lower EBITDA and higher working capital requirement across the US, Kenya, and India.
"Overall Asia, including India, continues to experience growth, while other markets, including the US and Western Europe, are witnessing slight decline due to reduced demand for flat and container glass,” R Mukundan, Managing Director and CEO Tata Chemicals said
Tata Chemicals shares are trading at Rs 908.75 which is at a decline of 3.99 percent as at 9:45 am.
Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
Find the best of Al News in one place, specially curated for you every weekend.
Stay on top of the latest tech trends and biggest startup news.
