Tata Chemicals Q2 net jumps by 91% to Rs 257 crore

The company had clocked a net profit of Rs 134 crore in the year ago period

Tata Chemicals today posted 91 per cent jump in its consolidated net profit at Rs 257.01 crore for the quarter ended on September 30, 2014.

The company had clocked a net profit of Rs 134.44 crore in the year ago period.

Total income from operations during the July-September quarter rose to Rs 4,803.15 crore as against Rs 4,343.97 crore in the year ago period, the company said in a statement.

Its finance cost came down to Rs 125.60 crore from Rs 179.37 crore, during the period under review.

Speaking on the company's performance Tata Chemicals Managing Director R Mukundan said, "The quarter and half year under review has been encouraging, apart from good performance by all businesses, the restructuring exercise is in progress, with early signs of improvements."

Mukundan added that better realisation at Tata Chemicals North America and positive performance by all the other businesses took the consolidated revenue to Rs 4,803 crore, net profit at consolidated level registered an impressive growth at Rs 257 crore.

Tata Chemicals is the world's leading soda ash producer with manufacturing facilities in Asia, Europe, Africa and North America.

Shares of the company today closed at Rs 423.50 apiece on BSE up by 1.18 per cent.