Tata Chemicals' consolidated PAT jumps 69.4% to Rs 340 crore in December quarter

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Tata Chemicals on Thursday reported a 69.39 per cent growth in consolidated profit after tax (PAT) to Rs 340 crore for the quarter ended December 31, 2021. The company's PAT had stood at Rs 200.72 crore during the corresponding quarter last year, Tata Chemicals said in a regulatory filing.

Its revenue from operations during October-December 2021 jumped 20.54 per cent to Rs 3,141.58 crore, compared with Rs 2,606.08 crore in the year-ago period. The firm's consolidated gross debt stood at Rs 6,937 crore, compared with Rs 7,108 crore as on September 30, 2021.

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Tata Chemicals Managing Director and CEO R Mukundan said, "With the re-opening of businesses in all markets, the overall demand environment continues to be positive." He added that while this positive demand momentum is expected to continue, the input supply-side environment especially energy costs remains high compared to historical levels, and supply chain challenges continue to be seen in the market.

The company continues with its long-term focus on excellence by leveraging digitalisation and sustainability, said Mukundan. "In addition to the operational excellence, we continue to focus on executing the growth capex (capital expenditure) in India," he added.

The company's shares on Thursday closed at Rs 959.20, down 0.87 per cent on the BSE.