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
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DENIP Consultants Pvt Ltd
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