Raw material provider Tata Chemicals reported demand for flat, container and solar glass was robust in the first five months of the year.
In its latest financial report, the Indian-headquartered soda ash supplier said Chinese demand was strong between January and May and demand for solar glass was on a strong footing within China.
Elsewhere demand was flat in North America while Europe experienced muted demand during the quarter.
Tata Chemicals reported a 72% decline in its consolidated net profit to Rs 150 crore for the first quarter of this fiscal year on lower income and higher expenses.
R. Mukundan, Managing Director & CEO, Tata Chemicals Limited, said: “The company has delivered a satisfactory performance during Q1FY25 as compared to Q4FY24 on expected lines.
The company’s overall sales volume remained stable as compared to the previous quarter, with marginal improvement in price sequentially on account of market factors.
“Our focus is on customer engagement and agile response, while ensuring steady contribution margins with focus on costs. We continue to work with our customers and other stakeholders on our sustainability and digitisation efforts.”
