Tata Chemicals posts 32 pc rise in Q4 net profit

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SME Times News Bureau | 27 May, 2017
Tata Chemicals on Friday reported close to 32 per cent rise in its consolidated net profit to Rs 343.02 crore in the fourth quarter ended March 31, 2017, from Rs 260.21 crore in the corresponding period a year ago.

The company's revenue from operations, however, saw a 15.8 per cent fall to Rs 3,002.33 crore during the quarter from Rs 3,565.20 crore in same period in the previous fiscal, according to a stock exchange filing.

Despite the fall in income, the firm posted a handsome growth in profit as its total expenses declined during the period.

Total expenses during the period under review fell to Rs 2,733.96 crore from Rs 3,310.56 crore for the same period of 2015-16.

Company's Managing Director and CEO R. Mukundan said: "The quarter under review has been encouraging with improved performance led by the Indian operations. Our sustained focus on improving operational performance and cost efficiencies has ensured margin expansion."

He also said the year registered good performance across businesses and geographies, in spite of challenges faced on several fronts.

The company, in a statement, said its North American operations maintained steady performance despite low production, which was impacted by maintenance outage and extreme cold weather in Wyoming, the lowest since 1962.

The British operations continued improved performance, with production volumes remaining above budget for soda ash, bicarbonate and salt while strong sales volumes were registered for salt and sodium bicarbonate.

"Going forward, we will continue our focus on delivering operational excellence across our business and driving growth in consumer products and specialty chemicals (like agrochemicals, nutraceuticals and advance material), while maintaining leadership in soda ash," Mukundan added.