Tata Chemicals Hits Record High After Profit Jumps Nearly 5 Times In June Quarter

Share price of Tata Chemicals surged over 10 per cent on Friday, August 5, to touch an all-time 51-week high of Rs 844, as the company announced its April-June quarter results for the financial year 2021-22. On Friday, Tata Chemicals opened on the BSE at Rs 806, swinging to an intra day high of Rs 844 and an intra day low of Rs 805, in the trading session so far. Tata Chemicals reported a net profit of Rs 342.33 crore on a consolidated basis in the first quarter of the current fiscal, compared to Rs 74.15 crore in the corresponding period last year.

The company's net profit surged 361.67 per cent year-on-year in the June quarter driven by a rebound in the soda ash volumes in India and United States. Tata Chemicals income from operations in the Juen quarter stood at Rs 2,977 crore, compared to Rs 2,348 crore in the corresponding period last year, marking a growth of 27 per cent year-on-year.

“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,'' said Mr. R. Mukundan, Managing Director & CEO, Tata Chemicals Limited.

On the NSE, Tata Chemicals opened at Rs 807.85, registering an intra day high of Rs 844 and an intra day low of Rs 802.70, in the session so far. It was last trading 8.14 per cent higher at Rs 831.95 on the NSE.

Shares of Tata Chemicals were last trading 8.15 per cent higher at Rs 832.02 on the BSE.