Tata Chemicals posts a hike of 188 per cent in profits for Q3FY18
Chemicals major Tata Chemicals posted its third quarter results for FY18 on Tuesday. The company recorded a hike in its net profit by 188 per cent to Rs. 759 crore for the corresponding quarter. The company ’s profit after tax from continuing operations stood at Rs. 545 crore, up by 176 per cent for the period.
Much of the company ’s profits were driven by its robust performance in the domestic segment with improved volumes and realisations across categories. Tata Salt also posted robust volumes during the period, with growth back on track. The company’s North America operations also exhibited a stable performance during the period. The company is debt-free with cash amounting to Rs. 1,189 crore.
However, Tata Chemicals remained in the negative territory through out the trade session on Tuesday. The stock hit an intraday high of Rs. 699 per share and an intraday low of Rs. 658.80 per share on BSE. It ended at Rs. 682.95 per share, lower by 1.99 per cent on BSE on Tuesday. Meanwhile, S&P BSE Sensex closed at 34,195.94 level, lower by 1.61 per cent and NSE Nifty50 ended at 10,498.25 level, lower by 1.58 per cent on Tuesday.