Tata Chemicals slips after muted Q2 earnings

Tata Chemicals declined 1.51% to Rs 612 after consolidated net profit rose 6.90% to Rs 437.05 crore on 4.14% increase in net sales to Rs 3,083.50 crore in Q2 September 2019 over Q2 September 2018.

Consolidated EBITDA grew 5% to Rs 635 crore in Q2 September 2019 as against Rs 602 crore in Q2 September 2018. Consolidated EBITDA margin improved to 21% in Q2 September 2019 over 20% in Q2 September 2018. The announcement was made during market hours today, 30 October 2019.

In consolidated books, the company's net borrowings (including lease liabilities) stood at Rs 2,256 crore and cash and cash equivalent was at Rs 3,794 crore.

Meanwhile, the S&P BSE Sensex was up 220 points or 0.55% to 40,051.87.

On the BSE, 97,025 shares were traded in the counter so far compared with average daily volumes of 17,012 shares in the past two weeks. The stock hit an intraday high of Rs 638.80 and an intraday low of Rs 607.65 so far during the day.

The stock hit a 52-week high of Rs 725.90 on 20 December 2018. The stock hit a 52-week low of Rs 543.60 on 23 August 2019.

Tata Chemicals is a manufacturer of soda ash and sodium bicarbonate for diverse industries, such as glass, detergents, silicates, textiles, food, pharmaceuticals, animal feed, mining and chemical processing.

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