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Tata Chemicals Q1 results: Consolidated net profit surges to Rs 342 cr

Mumbai: on Thursday reported a multi-fold jump in consolidated net profit at Rs 342.33 crore for the June quarter, helped by a rebound in soda ash volumes in the US and India. The company’s consolidated net profit stood at Rs 74.15 crore during the corresponding quarter of 2020-21, Tata Chemicals said in a BSE filing.

Income from operations grew by 27 per cent to Rs 2,977 crore from Rs 2,348 crore in the year-ago period.

This was mainly due to rebound in soda ash volumes in the US and India, the company added.

Income from operations during the first quarter for the Basic Chemistry Products segment grew 30 per cent to Rs 2,173 crore, while that from Specialty Products increased by 18 per cent to Rs 797 crore.

“Our priority continues to be the safety of our employees and ensuring business continuity. During the first quarter, we ensured agile servicing of customer demand and cost control.

“The capacity expansion at our Mithapur and Rallis, Dahej in Gujarat, is on schedule. With the business environment steadily improving, we are well positioned to grow across customer segments,” Tata Chemicals Managing Director and CEO R Mukundan added.

Shares of the company on Thursday closed at Rs 769.35, up 0.80 per cent on BSE.

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