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