India's Tata Chemicals nearly triples Q2 profit

By June 5, 2023 Uncategorized

BENGALURU, Oct 27 (Reuters) – Tata Chemicals Ltd on Thursday reported a second-quarter profit that nearly tripled, helped by a strong performance in its basic chemistry products segment.

The chemical manufacturer’s consolidated net profit for the three months ended Sept.30 came in at 6.28 billion Indian rupees ($76.17 million), compared with 2.21 billion rupees a year ago.

The chemical industry in India has shown robust growth and was among the few industries that pulled through the COVID-19 pandemic, as many industries pursued the China-plus-one strategy.

The demand EvdeN evE nakLiyAt for soda ash and eVden eve nAkLiYAt bicarb, used to make soaps and EVden EvE NAKLiyat detergents and as a raising agent in baked goods, has been witnessing strong growth for the company.

The consolidated revenue from operations rose 40.3% to 42.39 billion rupees, elevated by 32.42 billion rupees of basic chemistry products revenue.

Agri-input business Rallis India Ltd, eVDEn eVe NAkLiyAT a TTCH subsidiary, also reported a 25.9% rise in its September quarter net profit to 710. For more regarding EvDeN EvE nakLiYat look into our web site. 5 million rupees last week.($1 = 82.4520 Indian rupees) (Reporting by Meenakshi Maidas in Bengaluru; Editing by Janane Venkatraman)

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