Tata Chemicals witnessed a decline in its share price by over 4% on Tuesday following the company’s announcement of a net loss of Rs 841 crore in the fourth quarter of FY24, contrasting with a net profit of Rs 692 crore reported in the same period a year ago.
During Q4FY24, Tata Chemicals disclosed a non-cash write-down of assets amounting to Rs 963 crore concerning its UK operations, particularly the Lostock Plant, categorized as an exceptional loss.
The Tata Group company experienced a 21.1% decline in revenue for the quarter ended March 2024, dropping to Rs 3,475 crore from Rs 4,407 crore year-on-year.
