Tata Chemicals share price surged over 10 percent in the morning session on May 2 after the company reported a multi-fold jump in consolidated profit after tax at Rs 470.24 crore for the quarter ended March. The company’s PAT was at Rs 29.26 crore in the year-ago period.
The consolidated income from operations grew 32 percent during the quarter under review to Rs 3,481 crore, the Tata group firm said in a regulatory filing on April 29. In the same period a year ago, it stood at Rs 2,636 crore.
For 2021-22, Tata Chemicals’ profit after tax on a consolidated basis was up 221 percent to Rs 1,400 crore, up from Rs 436 crore a year ago.
The income from operations climbed 23.74 percent to Rs 12,622 crore compared to Rs 10,200 crore in FY21, a PTI report said.
At 10.31 am, the stock was trading at Rs 1,043, up Rs 102.25, or 10.87 percent, on NSE. It touched a high of Rs 1,046.65 and a low of Rs 962.30. The scrip was trading with volumes of 422,153 shares, compared to its five-day average of 35,427 shares, an increase of 1,091.61 percent.
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“While the global demand environment continues to be positive across our products and their applications, the supply-side environment, especially energy and input costs, remain at elevated levels along with logistic challenges that continue to be seen in the market.
“The team has responded well to ensure customers are served with agility,” Tata Chemicals Managing Director and CEO R Mukundan said.
According to him, the focus has been to ensure sustained and consistent volume deliveries to customers and the company continues its long-term focus on excellence by leveraging digitalisation and sustainability.
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