New Delhi: Tata Chemicals on Wednesday reported a 45 per cent decline in consolidated net profit at Rs 129.94 crore for the quarter ended December 31, 2015, on lower sales and a higher finance cost.
The company had posted a net profit of Rs 238.12 crore for the corresponding period of the last fiscal year (2014-15), according to a regulatory filing.
Income from operations fell nearly 4 per cent to Rs 4,637.35 crore in the third quarter of the current fiscal year (2015-16) from Rs 4,816.86 crore in the year-ago period.
Finance cost increased to Rs 159.64 crore during the quarter under review, from Rs 119.41 crore a year ago.
Tata Chemicals, a part of the over $100-billion Tata Group, is into manufacturing of fertilisers, salt and soda ash, among other products. It also sells branded pulses and spices.
The company, through its subsidiary Rallis, has a strong position in the crop protection business.
Tata Chemicals currently is the world's second largest producer of soda ash with manufacturing facilities in Asia, Europe, Africa and North America.
"Adverse climatic conditions, weaker yields and lower prices of key crops impact Rallis India performance," the company said.
"US volumes impacted due to production outages and extreme weather conditions. European operations stabilized, post commissioning of the steam turbine. The financial performance was adversely impacted by the marking to market of hedging contracts for future gas purchases, supporting soda ash production," the company said.
Tata Chemicals also informed that sales of banded pulses
were up 54 per cent over the previous year, while branded
spices have been successfully launched in seven states; Delhi,
Uttar Pradesh, Madhya Pradesh, Bihar, Jammu & Kashmir,
Uttarakhand and Rajasthan. PTI MJH
SA
02101839
NNNN
The company had posted a net profit of Rs 238.12 crore for the corresponding period of the last fiscal year (2014-15), according to a regulatory filing.
Income from operations fell nearly 4 per cent to Rs 4,637.35 crore in the third quarter of the current fiscal year (2015-16) from Rs 4,816.86 crore in the year-ago period.
Finance cost increased to Rs 159.64 crore during the quarter under review, from Rs 119.41 crore a year ago.
Tata Chemicals, a part of the over $100-billion Tata Group, is into manufacturing of fertilisers, salt and soda ash, among other products. It also sells branded pulses and spices.
The company, through its subsidiary Rallis, has a strong position in the crop protection business.
Tata Chemicals currently is the world's second largest producer of soda ash with manufacturing facilities in Asia, Europe, Africa and North America.
"Adverse climatic conditions, weaker yields and lower prices of key crops impact Rallis India performance," the company said.
"US volumes impacted due to production outages and extreme weather conditions. European operations stabilized, post commissioning of the steam turbine. The financial performance was adversely impacted by the marking to market of hedging contracts for future gas purchases, supporting soda ash production," the company said.
Tata Chemicals also informed that sales of banded pulses
were up 54 per cent over the previous year, while branded
spices have been successfully launched in seven states; Delhi,
Uttar Pradesh, Madhya Pradesh, Bihar, Jammu & Kashmir,
Uttarakhand and Rajasthan. PTI MJH
SA
02101839
NNNN
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