Tata Chemicals, a key player in the chemicals industry, has reported a steep 72% decline in its consolidated net profit for the first quarter of the fiscal year 2024-25, falling to Rs 150 crore. This significant drop in profit is attributed to lower income and increased expenses, as indicated in the company’s recent regulatory filing.

In comparison, the company had recorded a net profit of Rs 532 crore in the corresponding quarter of the previous fiscal year.

When considering net profit from continuing operations, Tata Chemicals witnessed a decline to Rs 175 crore from Rs 578 crore recorded during the same period last year. The company’s total income also saw a decrease, falling to Rs 3,836 crore for the April-June 2024 period, compared to Rs 4,267 crore in the same quarter of the previous year.

This sharp decline in both profit and total income highlights the challenges faced by Tata Chemicals in the current fiscal environment, which includes factors such as rising input costs and a challenging market landscape. The company has yet to provide detailed commentary on the specific factors driving the increase in expenses and decline in income, but it is clear that the first quarter has been a challenging period for the chemicals giant.

As the fiscal year progresses, stakeholders will be keenly watching how Tata Chemicals navigates these headwinds and what strategic measures it might implement to stabilize and potentially recover its financial performance in the coming quarters.