New Delhi, April 29, 2024: Tata Chemicals Ltd has announced a net loss of Rs 818 crore for the fourth quarter ending March 31, 2024. This downturn, compared to a net profit of Rs 694 crore in the same period last year, is attributed to reduced income and provisions for losses related to exceptional items, notably amounting to Rs 963 crore in the UK business segment.

According to the regulatory filing, the consolidated profit after tax (before exceptional items and Non-Controlling Interest) from continuing operations plummeted to Rs 145 crore in Q4 of the previous fiscal year, significantly lower than the Rs 694 crore recorded in the corresponding period of the preceding year.

The company’s performance reflects the challenges faced in the operating environment, particularly in the UK business segment. Despite the adverse financial results, Tata Chemicals remains committed to addressing these challenges and implementing strategies for sustainable growth.

As Tata Chemicals navigates through these turbulent times, stakeholders will closely monitor its initiatives to mitigate losses and regain financial stability in the forthcoming quarters.