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Tata Chemicals has reported 32 per cent increase in consolidated net profit at `279 crore (`211 crore) on the back of higher realisation and lower operational cost.
Net sales were down eight per cent at `3,617 crore (`3,947 crore).
Operational cost was down 12 per cent at `3,180 crore (`3,600 crore) on the back of lower cost on input, freight, power and fuel.
Globally soda ash demand in key markets was but prices were under pressure and the sharp depreciation of pound post the Brexit impacted the company’s earnings, it said.
On a standalone basis net profit was up 21 per cent at `203 crore (`168 crore) largely to lower cost. Net sales were down 17 per cent at `1,944 crore (`2,333 crore) due to suspension of production in phosphatic fertiliser unit due to high raw material cost, said the company in a statement on Friday.
However, overall cost was down by 22 per cent at `1,654 crore (`2,110 crore).
R Mukundan, Managing Director, Tata Chemicals, said the fertiliser business continues to be under pressure due to subsidy outstanding of `1,479 crore while the delay in onset of monsoon impacted the income in the first quarter.
While the company remains watchful of the volatility in the market, he said the overall growth momentum in India may continue.
Shares of the company four per cent at `476 on Friday.
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