Tata Chemicals net profit up 32.34% in Q1

Kolkata, Aug 5 (IANS) Tata Chemicals on Friday reported a 32.34 percent rise in its consolidated net profit at Rs 279.65 crore for the quarter ended June 30 as compared to Rs 211.31 crore in the corresponding period last year.

Its revenue fell by 8.67 per cent to Rs 3,651.86 crore in the April-June quarter, as against Rs 3,998.94 crore in the same quarter last year.

“The quarter under review witnessed strong performance of the chemicals and consumer business in India. Our continued focus on improving operational performance has ensured better performance across geographies, along with strong performance of the Indian chemicals business,” said Managing Director R. Mukundan.

Company’s revenue from inorganic chemicals stood at Rs 2,203.64 crore in the quarter under review from Rs 2,172.47 crore in the same period last year.

Revenue from fertilisers was at Rs 760.75 crore in the quarter as compared to Rs 1203.14 crore in the year-ago period.

The consumer product business continues its leadership in the branded salt segment, said Mukundan.

“The fertiliser business continues to be under pressure due to subsidy outstanding of Rs1,479 crore. The delayed onset of monsoon impacted the results in the first quarter, however we remain positive and expect conditions to improve in the next quarter,” he said.

According to him, going forward the company expects the Indian market to continue the overall growth momentum and also remain positive about the growth across its businesses.

–IANS

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