Tata Chemicals declared its financial results for the June quarter of FY24, revealing that its net profit decreased by 11.8 percent to ₹523 crore compared to ₹593 croreYoY. According to a regulatory filing, the revenue witnessed a growth of 5.6 percent, reaching ₹4,218 crore in Q1FY24 from ₹3,995 crore YoY. In contrast, the net income for Q4FY23 amounted to ₹4,407 crore, demonstrating a substantial increase compared to the June quarter.
Its EBITDA for Q1FY24 rose by 2.8 percent to ₹1,043 crore, as opposed to ₹1,015 YoY. The EBITDA margin for Q1FY23 stood at 24.7 percent, slightly lower than the 25.4 percent recorded year-on-year.
As of June 30, 2023, the consolidated gross debt of the company decreased to ₹5,873 crore from ₹6,296 crore on March 31, 2023. Additionally, cash and cash equivalents totaled ₹1,544 crore on June 30, 2023, down from ₹2,398 crore on March 31, 2023, as stated by the company. Shares of Tata Chemicals Limited closed at ₹1010.35 on Tuesday, marking a decline of 2.78 percent.