Tata Chemicals posts Rs 242 cr profit in Jan-March quarter

Tata Chemicals today reported a net profit of Rs 242.24 crore for the quarter ended March as against a net loss of Rs 74.17 crore in the year-ago period.
Total income rose to Rs 4,055.49 crore in the fourth quarter of the last fiscal from Rs 3,766.14 crore in the corresponding period of 2014-15, Tata Chemicals said in a regulatory filing.
During the entire 2015-16 fiscal, the company's net profit stood at Rs 780.16 crore as compared to Rs 596.46 crore in the previous year.
Total income increased to Rs 17,830.73 crore in the last fiscal from Rs 17,322.45 crore in 2014-15.

"Adverse climatic conditions, weaker yields and lower prices of key crops impacted our agriculture related business performance during the fourth quarter," Tata Chemicals Managing Director R Mukundan told PTI.
"We are prepared for a good year and looking forward to a good monsoon," he added.

The quarter under review has been encouraging with improved performance in all businesses led by the Indian operations, he said.
"The improved performance of all international geographies along with lower input costs for the Indian chemicals business took the operating profit to Rs 520 crore, a jump of 26 per cent on a consolidated basis. However, we remain watchful of the situation in the UK and Kenya," he said.

He said standalone revenue was up by seven per cent to Rs 2,268 crore and net profit was at Rs 111 crore due to better performance in the chemicals and consumers business in India.
"The consumer products business continues to grow and maintained its leadership position in the national branded edible salt market," he added.
Talking about the fertiliser business, he said, it continues to be under pressure due to subsidy outstanding of Rs 1,902 crore.
"We are de-focusing on the fertiliser business due to the subsidy outstanding," he added.
Going forward, the company will focus on operational excellence and enhance the share of the foods business.

Tata Chemicals is engaged in various businesses including salt, pulses, water purifiers, soda cash, fertilisers and various other chemicals.