Tata Chemicals' consolidated Q3 net profit up 32%

Tata Chemicals on Wednesday reported a rise of 31.65 per cent in its consolidated net profit after tax, share of profit/(loss) in joint ventures and associate at Rs 318.39 crore for the third quarter ended December 31, 2016.

The net profit after tax, share of profit/(loss) in joint ventures and associate of the company had stood at Rs 241.84 crore in the like period of last fiscal.

However, the firm's total income from operations declined to Rs 3,494.80 crore for the quarter ended December 31, 2016, from Rs 3,991.25 crore in the like period of 2015-16.

"This quarter registered good performance across businesses in India, as well as other geographies, in spite of challenges faced on several fronts," R. Mukundan, Managing Director of Tata Chemicals, said in a statement.

"Strong focus on operational excellence helped maintain the steady performance of the Indian chemicals and consumer business. Our North American, European and African operations performed well due improved reliability of operations."

The company's scrip at the BSE gained 3.28 per cent or Rs 18.25 per share to Rs 573.90 from its previous close of Rs 555.65 per equity share.

--IANS

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