Tata Chemicals Q1 net profit jumps 86% to Rs 637 crore

Tata Chemicals said on Tuesday that its consolidated net profit increased by 86.25 percent to Rs 637 crore for the quarter ending in June. In the comparable quarter of the prior fiscal year, the company's net profit was Rs 342 crore, according to a regulatory filing by Tata Chemicals.

When compared to the same quarter last fiscal year, the company's operating revenue increased by 34.15 percent, or Rs 3,995 crore, to Rs 3,995 crore. On Tuesday, the company's shares on BSE finished 0.95 percent higher at Rs 957.15 per share. Tata Chemicals, which has manufacturing plants in India, the United Kingdom, Kenya, and the United States, is currently the third-largest producer of soda ash in the world.

In terms of sodium bicarbonate production, it ranks sixth. When JRD Tata, the company's then-chairman, acquired it in 1939, Tata Chemicals Ltd. joined the Tata Group. Over the years, Tata Chemicals has developed from producing industrial salt and soda ash to a variety of science-based goods that enhance our customers' quality of life. In light of strong Q1 results, the shares of Tata Chemicals has increased sharply today by 12%.

The company's net profit stood at Rs 342 crore in the corresponding quarter of the previous fiscal, Tata Chemicals said in a regulatory filing. Revenue from operations of the company surged by 34% during the quarter under review at Rs 3,995 crore compared to Rs 2,978 crore in the same period of last fiscal. The company has maintained a good dividend history and regularly declared dividend in the last 5 years. The company declared an equity dividend of 125% or Rs 12.5 per share for the year ending March 2022. It has a dividend yield of 1.16.