Tata Chemicals shares decline over 2% after fourth quarter earnings

New Delhi: Shares of Tata Chemicals Ltd on Tuesday ended over 2 per cent lower after the company reported a net loss of Rs 818 crore in the fourth quarter ended March 31, 2024.

The stock slipped 2.43 per cent to settle at Rs 1,072.30 on the BSE. During the day, it declined 4.45 per cent to Rs 1,050.

On the NSE, it ended at Rs 1,072.10, down 2.49 per cent. During the day, it went lower 4.50 per cent to Rs 1,050.

Tata Chemicals Ltd on Monday reported a net loss of Rs 818 crore in the fourth quarter ended March 31, 2024, on lower income and provision of loss on account of exceptional items of Rs 963 crore in the UK business.

It had posted a net profit of Rs 694 crore in the year-ago period.

The consolidated profit after tax (before exceptional items and non-controlling interest) from continuing operations declined to Rs 145 crore in the fourth quarter of the last fiscal, as compared to Rs 694 crore in the corresponding period of the preceding year, according to a regulatory filing.

The company's total income fell to Rs 3,589 crore in the fourth quarter of the last fiscal year from Rs 4,482 crore in the year-ago period.

During the 2023-24 fiscal, the company reported an 82 per cent decline in profit after tax from continuing operation to Rs 449 crore mainly due to the provision of loss on account of exceptional items of Rs 861 crore and lower income.