Tata Chemicals shares plunged more than 6% after the chemicals giant reported a huge decline in profit. The company's net profit declined by 85% to ₹29 cr in the 4th quarter ending March 2021 from ₹198 cr in the corresponding quarter of the previous year.
The Tata Group company's net profit declined 85 percent to ₹ 29 crores in the fourth quarter ended March 2021 from ₹ 198 crores in the corresponding quarter of the previous year.
The company's income from operations declined 2 percent to ₹ 10,200 crores in FY21, while earnings before interest, tax, depreciation, and amortization (EBITDA) slid 23 percent to ₹ 1,501 crores.
At 9:22 am, Tata Chemicals shares were trading at ₹ 732, lower by 6.50 percent, on BSE. Meanwhile, the company's board recommended a dividend of ₹ 10 per share.
CommentsThe BSE Sensex was trading at 48,889.51, higher by 176.05 points or 0.35 percent and the NSE Nifty was at 14,692.45, up 53.55 points or 0.35 percent at the time.