Tata Chemicals on Thursday reported a 54.67 percent drop in its consolidated profit to Rs 194 crore for the second quarter ended September 2024. The company’s net profit stood at Rs 428 crore in the same period last fiscal, Tata Chemicals said in a regulatory filing.
The company’s operating income was lower during the quarter under review at Rs 3,999 crore compared to Rs 3,998 crore in the same period of FY24.
“The overall demand for soda ash in India has been stable, while other segments such as container glass in America and Europe have experienced muted demand.
“Unprecedented heavy rains in July and August impacted Mithapur’s operations resulting in lower production compared to the previous quarter, thereby impacting margins,” said Tata Chemicals Managing Director and CEO R Mukundan.
However, he said, the company’s overall performance was better compared to the previous quarter due to higher sales volume, coupled with higher availability of soda ash.
“Our focus is on customer engagement and sustainable operations, while ensuring strong cost-effective delivery rates. We continue to work with our customers and other stakeholders in our sustainability and digitization efforts,” he added.
Shares of the company on Thursday closed at Rs 1,073.70, down 2.41 percent on the BSE.
