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Tata Chemicals Ltd.’s topline was marginally above while bottom-line beat was due to better-than-expected joint venture performance (Immacid) and lower taxes.
Reported revenue growth of 21% YoY to Rs 3141.6 crore, led by higher growth in the basic chemical segment across four units.
Gross margins expanded 153 basis points YoY to ~81.1% while Ebitda margin fell 76 bps YoY to 17.4%, impacted by higher power and fuel cost (up 25% YoY).
Tata Chemicals’ Ebitda was up 16% YoY to Rs 545.1 crore. Profit after tax was up 87% YoY to Rs 301 crore, led by higher joint venture income (Rs 93.9 crore versus Rs 6.2 crore in Q3 FY21) and lower taxes (16% versus 21% in Q3 FY21).
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