Tata Chemicals consolidated Q3 PAT down 3.66% to Rs 160.85 crore

Tata Chemicals on Thursday reported a 3.66 per cent decline in consolidated profit after tax (PAT) at Rs 160.85 crore for the third quarter ended December 2020.

The company's PAT stood at Rs 166.97 crore during the corresponding period of 2019-20, Tata Chemicals said in a statement.

Income from operations on a consolidated basis dipped 0.7 per cent to Rs 2,606 crore as compared to Rs 2,623 crore in the same quarter of the previous fiscal.

"During Q3, we have witnessed sequential improvement in demand, even as we navigate the margin pressures through agile execution of cost efficiencies.

"While we are focusing on business continuity, the health and safety of our employees and partners still remain our priority," Tata Chemicals Managing Director and CEO R Mukundan said.

In the coming quarters, the company expects a greater recovery in production and demand, given the commencement of the vaccination drive in India, he added.

"Our business strategy going forward will be scaling up the value chain across our verticals with increased efforts towards R&D and innovation," Mukundan said.