Tata Chemicals reports ₹818 crore loss in Q4, shares plummet 4.5%
Upstox
2 min read • Updated: April 30, 2024, 12:44 PM
Summary
Shares of Tata Chemicals Ltd. experienced a 4.50% decline after reporting a net loss of ₹818 crore in the fourth quarter ended March 31, 2024. The company attributed this loss to lower income and provisions for exceptional items, particularly in its UK business.
Shares of Tata Chemicals Ltd. on Tuesday, 30 April 2024, dipped 4.50% after the company reported a net loss of ₹818 crore in the fourth quarter ended March 31, 2024. On the NSE, the stock declined 4.50% to ₹1,050. Tata Chemicals Ltd on Monday reported a net loss of ₹841 crore in the fourth quarter ended March 31, 2024 on lower income and provision of loss on account of exceptional items of ₹963 crore in the UK business.
It had posted a net profit of ₹694 crore in the year-ago period. The consolidated profit after tax (before exceptional items and non-controlling interest) from continuing operations declined to ₹145 crore in the fourth quarter of the last fiscal, as compared to ₹694 crore in the corresponding period of the preceding year, according to a regulatory filing.
The company's total income fell to ₹3,589 crore in the fourth quarter of the last fiscal year from ₹4,482 crore in the year-ago period. During the 2023-24 fiscal, the company reported an 82% decline in profit after tax from continuing operation to ₹449 crore mainly due to the provision of loss on account of exceptional items of ₹861 crore and lower income.
Also read, Tata Chemicals Q4 results: Net loss at ₹841 crore, revenue from operations drops 21% YoY
About Tata Chemicals Limited:
Tata Chemicals is a science-led company with a portfolio that covers basic and specialty chemistry products. The motive of the company is to harness the fruits of science for goals that go beyond business. At 11:55 AM, the shares of Tata Chemicals traded 2.28% lower at ₹1,074.45 on NSE on 30 April, 2024.