Tata Chemicals’ share price rose more than 10 percent on Friday, August 5, reaching a record high of Rs 844 in 51 weeks, as the company announced its April-June quarterly results for fiscal year 2021-22. On Friday, Tata Chemicals opened on the BSE at Rs 806, fluctuating towards an intraday high of Rs 844 and an intraday low of Rs 805, in the trading session so far. Tata Chemicals reported a net profit of Rs 342.33 crore on a consolidated basis in the first quarter of the current fiscal year, compared to Rs 74.15 crore in the corresponding period last year.
The company’s net profit rose 361.67 percent year-on-year in the June quarter, on the back of an uptick in soda ash volumes in India and the United States. Tata Chemicals’ operating income was Rs 2,977 crore in the June quarter, compared to Rs 2,348 crore in the corresponding period last year, a 27 percent year-on-year growth.
“During the first quarter, we ensured a flexible service to customer demand and cost control. The capacity expansion at Tata Chemicals, Mithapur and Rallis, Dahej is on track. With the business environment steadily improving, we are well positioned to grow in several customer segments,” said Mr R. Mukundan, Managing Director & CEO, Tata Chemicals Limited.
On the NSE, Tata Chemicals opened at Rs 807.85, with an intraday high of Rs 844 and an intraday low of Rs 802.70 in the session so far. It last traded 8.14 percent higher at Rs 831.95 on the NSE.
Shares of Tata Chemicals last traded 8.15% higher at Rs 832.02 on the BSE.