Tata Chemicals have announced its financial results for the April-June quarter of the current fiscal year. The company reported an 11.8% decline in its net profit to Rs 523 crore for the quarter under review against the Rs 593 crore reported in the year-ago quarter.

The company reported a 5.6% YoY growth in its revenue from operations at Rs 4,218 crore from the Rs 3,995 crore the company reported in the June quarter of the previous fiscal year.

The chemical company’s EBITDA grew by 2.8% to Rs 1,043 crore for the quarter under review, whereas the margin fell by 70 basis points for the same.

The stock of Tata Chemicals has been underperforming from the Nifty 50 index and has given a return of 1.03% over the last six months.

The consolidated gross debt of the company dropped to Rs 5,873 crore during the June quarter against Rs 6,296 crore during the March quarter of the previous fiscal year.

At 11:40 am, the shares of Tata Chemicals Ltd were reading at Rs 1,009.00 or 2.91% below its previous close of Rs 1,039.20 on NSE.