Saturday, November 10, 2012

Tata Chemicals net down over 6% at Rs 323 cr


Tata Chemicals, the fertilizer and chemicals arm of the Tata Group, posted 6.3 per cent decline in net profit at Rs 323.48 crore for the quarter ended September 30 from Rs 345.26 crore a year ago. Income from operations rose to Rs 4,260.19 crore, as against Rs 3,608.36 in the year-ago period, the company said in a statement.

The company registered 17 per cent rise in sales turnover during the quarter despite challenges posed by the uncertainties across the globe, Tata Chemicals managing director R Mukundan said. "Going forward, we expect the domestic market to continue the growth momentum, however, there would be continued pressure in the complex fertilizer business. We continue to lead the market in the national branded salt category with 67 per cent market share.

"Our water purifier business launched a new variant Lavita enhancing the offering basket. We also remain positive about the continued growth across our businesses and the transformation to more consumer and specialty portfolio," he added.

The company further said Tata Sons Deputy Chairman Cyrus Mistry has been appointed as deputy chairman of Tata Chemicals with immediate effect. He was on the board of the company since May.

Source: www.moneycontrol.com

Thanks,
Gaurav Agarwal
Head Dealer
DENIP Consultants Pvt Ltd


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