Tata Chemicals Q2 Results: Profit Tumbles 46% But Beats Estimates
The margin contracted to 15.5% in the September quarter versus 20.5% in the year-ago period.
(Source: Unsplash)
Tata Chemicals Ltd.'s consolidated net profit in the second quarter of the current financial year declined 46% but beat analysts' estimates.
The company posted a profit of Rs 267 crore in the quarter ended September in comparison to Rs 495 crore in the year-ago period, according to an exchange filing on Thursday. Analysts tracked by Bloomberg had estimated a profit of Rs 231 crore.
Tata Chemicals Q2 Earnings Highlights (Consolidated, YoY)
Revenue flat at Rs 3,999 crore versus Rs 3,998 crore (Bloomberg estimate: Rs 3,994 crore).
Net profit down 46% to Rs 267 crore versus Rs 495 crore (Bloomberg estimate: Rs 231 crore).
Ebitda down 25% to Rs 618 crore versus Rs 819 crore (Bloomberg estimate: Rs 647 crore).
Margin contracted to 15.5% versus 20.5% (Bloomberg estimate: 16.2%).
Shares of Tata Chemicals closed 2.41% lower at Rs 1,073.85 apiece on the NSE, compared to a 0.89% decline in the benchmark Nifty 50.
(This is a developing story)
