Tata Chemicals Q4 net profit up 32% at Rs 343 crore

Companies net profit stood at Rs 260 crore in year-ago period

Tata Chemicals on Friday reported a 31.82 per cent increase in consolidated net profit at Rs 343.02 crore in the fourth quarter of 2016-17 financial year even as income remained down.

Its net profit stood at Rs 260.21 crore in the year-ago period, the company said in a BSE filing.

Total income declined to Rs 3,079.47 crore in the January-March quarter of the 2016-17 financial year from Rs 3,618.14 crore in the year-ago period.

However, expenses remained lower at Rs 2,733.96 crore as compared to Rs 3,310.56 crore in the said period.

For the FY 2016-17, net profit rose to Rs 1,234.10 crore from Rs 1,001.11 crore in the previous financial year.

The board has recommended a dividend of Rs 11 per ordinary share of Rs 10 each for the 2016-17 financial year, subject to the approval of the shareholders at the ensuing annual general meeting of the company. The dividend, if approved, will be paid on and from August 11, 2017.

Tata Chemicals, a Tata group company, is engaged in manufacturing of chemicals, salt and fertilisers. It also sells pulses and spices under Tata Sampann brand. The firm is also into water purifier business.