Tata Chemicals at new low

about 2 years ago
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Tata Chemicals hit a new 52-week low today at Rs.598.25; it has recouped from this low but remains 6.5% down at Rs.605.

The market is very disappointed with its performance for Q3FY19. Despite a 13% (YoY) rise in total consolidated income at Rs.2973 crore, it ended the quarter with a 71% drop in net profit at Rs.219 crore.

The fall in net profit can be attributed to two reasons – an exceptional loss of Rs.28 crore which was provision of an increase in pension liability in its group's UK entities. And in previous Q3, it had an exceptional gain of Rs.247 crore, which was deferred tax gain from its group company, Tata Chemical North America.

Its Consolidated Net Debt stands at Rs 2103 crore as at 31st December, 18.

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