Tata Chemicals shares slip 4% after Q1 net profit declines 67% YoY

For the quarter under review, net income declined by 9.88 per cent to Rs 2,406.82 crore from Rs 2,670.90 crore

Shares of Tata Chemicals fell as much as 4 per cent to Rs 293.05 apiece on the BSE on Monday after the company posted a 67.23 per cent drop in its consolidated net profit at Rs 74.15 crore for the June quarter due to poor sales. It had posted a net profit of Rs 226.33 crore in the year-ago quarter.

At 11:18 am, the stock was quoting over 2.5 per cent lower at Rs 297.75 on the BSE. In comparison, the S&P BSE Sensex was traing 412 points, or over 1 per cent lower at 37,195 levels. 

For the April-June 2020 quarter,