Tata Chemicals on Wednesday announced a dividend payout of Rs 17.50 per share to its shareholders for the financial year 2022-23. The payout translates to 175 per cent against a face value of Rs 10 per equity share. The payout and record date for the same will be decided after the approval of the shareholders at the 84th Annual General Meeting of the Tata Group firm. 

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Tata Chemicals' consolidated income or revenue from operations for the January-March quarter came in at Rs 4,407 crore, rising more than 6 per cent sequentially from Rs 4,148 crore in the previous quarter. On year-on-year (YoY) basis, Tata Chemicals' consolidated income rose 16 per cent from Rs 3,481 crore it had posted in the corresponding quarter last year. Tata Chemical's total income for the fiscal year came in at Rs 16,789 crore, jumping 33 percent from Rs 12,622 crore the Tata group firm had posted in the corresponding quarter a year ago.

Tata Chemical's Q4FY23 net profit jumped nearly 82 per cent sequentially to Rs 709 crore. It had posted Rs 391 crore in the December quarter. On a YoY basis, Tata Chemicals' net profit jumped more than 61 per cent from Rs 438 crore it had posted in the corresponding quarter last year. On an annual basis, net profit rose to Rs 2,317 crore in the year ended March 31, 2023, surging 84 per cent YoY, from Rs 1,258 for the year ended March 31, 2022. 

Tata Chemcials share price closed at Rs 992.05 apiece on BSE, up 2.04 per cent. So far this year, Tata Chemicals stock price has surged more than 5.6 per cent, while the one-year return on the Tata Group chemical stock remains negative at almost 4 per cent. During the same period, benchmark Sensex has posted an almost 10 percent gain.

Meanwhile, another Tata Group firm Titan posted a standalone net profit of Rs 734 crore, up 49 per cent from the year-ago period and announced a dividend of Rs 10 per share with a face value of Re 1.

-This story has been updated with more details