Tata Chemicals surges 9% on strong June quarter results

The performance for the quarter was largely led by improved soda ash realisations across all geographies, which led strong top line growth for the quarter, said ICICI Securities.

Shares of Tata Chemicals surged 9 per cent to Rs 1,042.55 on the BSE in Wednesday’s intra-day trade after the company reported a strong 87 per cent year-on-year (YoY) jump in its consolidated profit after tax (PAT) at Rs 641 crore in the June quarter (Q1FY23). The Tata Group company had posted a PAT of Rs 342 crore in the corresponding quarter of the previous fiscal.

The company’s reported income from operations grew 34 per cent YoY at Rs 3,995 crore in Q1FY23 as compared to Rs 2,978 crore in Q1FY22. Earnings before interest, taxes, depreciation, and amortization (ebitda)