The Hindu Business Line : Tata Chemicals net rises 16%

Tata Chemicals Ltd (TCL) has reported a 16-per-cent increase in net profit for the first quarter ended June 30, 2006, and a 49-per-cent increase in turnover.

The net profit amounted to Rs 75.33 crore, up from Rs 64.94 crore in the year-ago quarter.

Net sales increased to Rs 757.46 crore (Rs 509.98 crore).

Other income roseto Rs 5.37 (Rs 5.11) in the first quarter. Total expenditure went up by 50 per cent.

"The performance of the company in the first quarter has been strong. Production and sales volumes of all our products have increased significantly,'' said its Managing Director, Mr Prasad Menon, in a press release.

TCL's market share (including imports) increased to 33.6 per cent (29.4 per cent).Dense soda ash comprised 32 per cent of total soda ash sales for the quarter under review.

Market share of Tata Salt at the end of the quarter was 51.6 per cent within the national branded segment and 22 per cent in the overall iodised salt segment. The functioning of the company's fertiliser segment continues to be healthy, said the company press note.

Shares of TCL moved up by Rs 5.95 or 3.01 per cent to Rs 203.40 on the BSE.

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