Tata Chemicals slides after Q4 PAT tumbles 48% YoY to Rs 198 cr

Tata Chemicals fell 2.78% to Rs 285.05 after consolidated net profit slumped 48.47% to Rs 197.56 crore on 7.16% decline in revenue from operations to Rs 2,378.09 crore in Q4 March 2020 over Q4 March 2019.

Consolidated profit before tax (PBT) dropped 45.28% to Rs 216.88 crore in Q4 March 2020 as against Rs 396.38 crore in Q4 March 2019. Total tax expenses jumped 49.07% to Rs 19.32 crore in Q4 March 2020 as against Rs 12.96 paid in Q4 March 2019. The Q4 results was declared post trading hours on Friday, 15 May 2020.

EBITDA dropped 11% to Rs 400 crore in Q4 March 2020 from Rs 447 crore in Q4 March 2019. EBITDA margin stood unchanged at 17% in Q4 March 2020 compared with the same period last year.

Commenting on the Q4 performance, R. Mukundan, the managing director (MD) & chief executive officer (CEO) of Tata Chemicals, has said: The pandemic impacted some parts of our operations and supply chain during the quarter. Nevertheless we are also looking at this as an opportunity to improve our operating capabilities and review our growth strategy. In India, Mithapur has been producing all products with additional emphasis on Salt and Bicarb as both these products fall under essential commodities. We would like to thank the local and district authorities for their support to enable us to continue operations and the Indian Railways for facilitating uninterrupted availability of rakes for product movement enabling us to ensure supply of critical products to our consumers. We will continue to monitor the market demand and ensure agility in our operations with renewed focus on product supply, cash position, optimal CAPEX spends, and reduction in fixed costs. As the world recovers from the pandemic situation, safety of our employees, our extended value chain partners and the communities around which we operate will remain our focus areas while we continue to work closely with our customers enabling them to get back on track at the earliest.

Tata Chemicals is a global company with interests in businesses that focus on basic chemistry products, consumer and specialty products.

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