Tata Chemicals share price falls 2% after very weak Q3 earnings

Tata Chemicals stock price made an intraday low of Rs 935.25 against its previous close of Rs 979.25.

Shares of Tata Chemicals slipped over 2% in trade on the back of very weak set of Q3 earnings from the company. Tata Chemicals stock price made an intraday low of Rs 935.25 against its previous close of Rs 979.25.

Missing all street estimates, Tata Chemicals’ net profit slipped 60% on a YoY basis to Rs 158 crore from Rs 398 crore during the same period last year. Its EBITDA also fell over 40% YoY to Rs 542 crore versus Rs 922 crore in Q3FY23.

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Tata Chemicals’ revenue for the quarter stood at ₹3,730 crore, showcasing a decrease of 10%, to ₹4,148 crore reported in the corresponding quarter of the previous year (Q3FY23).