Business Daily from THE HINDU group of publications
Tuesday, Oct 31, 2006
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Business Daily from THE HINDU group of publications Tuesday, Oct 31, 2006 ePaper |
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Corporate Results
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Diversified Tata Chem net up 25% Our Bureau
Mumbai , Oct. 30 Tata Chemicals has reported a 25 per cent increase in net profit at Rs 157.7 crore (Rs 125.9 crore) for the second quarter ended September 30, 2006. This is on net sales of Rs 1,126 crore, which is 13 per cent higher than a year ago. "We have seen a strong improvement in our sales realisations driven by healthy sales volumes across all our products," Mr Homi Khusrokhan, Managing Director, Tata Chemicals, said, Profit from operations for the quarter amounted to Rs 197 crore, marginally up from Rs 195 crore a year ago. Other income rose 90 per cent, to Rs 67.8 crore (Rs 35.7 crore). The inorganic chemicals division reported a revenue rise of 9 per cent at Rs 361.7 crore, but profit before interest and tax dipped to Rs 91.46 crore, down from Rs 92 crore. The fertiliser division reported a 15 per cent rise in revenues at Rs 764 crore (Rs 663.5 crore); PBIT for this division rose marginally to Rs 84.4 crore (Rs 81.8 crore). Sales volumes were healthy on the back of strong though delayed and uneven monsoon; production volumes for the quarter were lower as a result of unavailability of natural gas mainly due to floods in Gujarat, a statement from the company said. Tata Chemicals maintained its leadership in the domestic edible salt market with a market share of 47 per cent in the national branded segment and 18.2 per cent in the overall iodised packaged segment in August 2006, said the company. Interest costs stood at 5.2 per cent for the quarter and half year under review. Total debt as on September 30, 2006 stood at Rs 1,374 crore. Debt largely comprise low-cost short-term buyers credit for the phosphatics business and the foreign currency commercial borrowing raised in January 2005, said the statement Tata Chemicals gained on the bourses, rising 0.6 per cent to close Monday at Rs 236 on the BSE.
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