Tata Chemicals said that for the December quarter, the company posted a consolidated net profit of R224.07 crore, up marginally from R223.78 crore registered a year ago. Net sales was up 9% at R4,170.46 crore compared to R3,793.93 crore a year earlier.
Company’s managing director R Mukundan said, “Performance for the quarter under review was under stress due to Magadi & UK units’ performance, and phosphatics business. Continued outstanding of fertiliser subsidies has created working capital pressures for the company. However, on the whole we remain positive on recent fertiliser policy announcements."
"Going forward we expect Indian market to continue the growth momentum. However, there would be continued pressure on soda ash and in the complex fertiliser business," he added.