Tata Chemicals Q3 consolidated net up 8% at Rs 288 cr

Tata Chemicals on Monday reported an 8.11 per cent rise in consolidated profit to Rs 288 crore during the third quarter ending December 31, 2019, against the same period of the previous financial year.

The company's profit from continuing and discontinuing operations on a consolidated basis stood at Rs 266.30 crore during the third quarter of FY2018-19, a release said here.

Tata Chemicals income from operations on a consolidated basis went up by 2 per cent to Rs 2,620 crore compared to Rs 2,569.81 crore in the corresponding period of the previous fiscal.

"For the quarter under review, the Basic Chemistry Products business continues its' resilient albeit pressures from operating environment. The capex investment in Mithapur to expand capacities is proceeding as per plan.

"Our new manufacturing facility for Nutritional Solutions is undergoing trials for production of FOS and commercial production is expected to commence towards the end of Q4 FY20," Tata Chemicals Managing Director and CEO R Mukundan said.

He said the company's Cuddalore plant is also undertaking trial production of Highly Dispersible Silica. "Under the Energy Science business, the 3P plant for Li-ion battery recycling has been operational. In our Agro Sciences business, Rallis India continues to perform well and grew by 28 per cent due to higher volumes and better realisation from international and domestic business," he said.

Each of our business segments are picking up momentum, with some still in the growth phase, he added.