Companies

Tata Chemicals’ Q3 net rises 8 per cent to ₹288 crore

Our Bureau Mumbai | Updated on February 03, 2020 Published on February 03, 2020

Revenue increases to ₹2620 crore

has reported an 8 per cent growth in December-quarter net profit at ₹288 crore, against ₹266 crore in Q3 FY19.

Revenue from operations was up at ₹2620 crore (₹2,570 crore). The company's freight and finance costs were lower at ₹379 crore (₹445 crore) and ₹75 crore (₹95 crore), respectively. The overall expenses were marginally lowered at ₹2,386 crore (₹2,396 crore).

The company has received approval from the National Company Law Tribunal (NCLT) to spin off its consumer business into Tata Global Beverages. The transaction is expected to be completed by the March quarter.

Similarly, NCLT approved the merger of Metahelix into Rallis India in January. It will be effective from February 1.

The consolidated net debt was at ₹3,726 crore as of December-end.

R Mukundan, Managing Director, Tata Chemicals, said the basic chemical products business faced pressure on operations. The new modern manufacturing facility for nutritional solutions is undergoing trials for the production of FOS (fructooligosaccharides) and commercial production is expected to commence towards the end of this fiscal.

The Cuddalore, Tamil Nadu, plant is also undertaking trial production of highly dispersible silica.

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Published on February 03, 2020
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