Mumbai (Maharashtra) [India], May 16 (ANI): Tata Chemicals has reported 32 per cent decline in the standalone net profit at Rs 118 crore during the January to March quarter compared to Rs 172 crore in the year-ago period.
Revenue from operations was down at Rs 734 crore, down 15 per cent from Rs 861 crore. Earnings before interest, taxes, depreciation and amortisation (EBITDA) slipped by 23 per cent to Rs 140 crore from Rs 181 crore in Q4 FY19.
"The pandemic impacted some parts of our operations and supply chain during the quarter," said Managing Director and CEO R Mukundan. "Nevertheless we are also looking at this as an opportunity to improve our operating capabilities and review our growth strategy."
During the quarter, the company shut down its manufacturing operations located at Mambattu Nellore in Andhra Pradesh, Sriperumbudur and Cuddalore in Tamil Nadu. It also scaled down operations at Mithapur in Gujarat for products other than salt and bicarb.
Tata Chemicals' basic chemistry product range provides key ingredients to some of the world's largest manufacturers of glass, detergents and other industrial products. It is the world's third largest producer of soda ash with manufacturing facilities in Asia, Europe, Africa and North America.
The company has a strong position in the crop protection business through its subsidiary company Rallis India Ltd.
Tata Chemicals has R&D capabilities with a dedicated band of research and scientific personnel working at its facilities in Pune and Bengaluru in the emerging areas of material sciences, nutritional sciences, nanotechnology, biotechnology and agriculture sciences. (ANI)