Tata Chemicals slips 8% on weak operational performance in March quarter

The management said during the quarter, the company's profits was muted due to one off in US operations caused by Polar Vortex leading to sharp rise in gas prices.

Shares of Tata Chemicals slipped 8 per cent to Rs 721.85 on the BSE in intra-day trade on Tuesday after the company posted a disappointing operational performance.

For the January-March quarter of the financial year 2020-21 (Q4FY21), the company’s earnings before interest, taxes, depreciation, and amortization (Ebitda) margins declined 610 basis points (bps) to 10.7 per cent mainly due to lower gross margins, higher other expenditure and Rs 45 crore one-off expense in US operations caused by Polar Vortex leading to a sharp rise in gas prices.

Overall margins of India operations were marginally impacted due to lower sales realisation despite improved