Tata Chem­i­cals Q1 net profit falls 12.8pc

The Pak Banker - - COMPANIES/BOSS -

MUM­BAI: Tata Group-con­trolled Tata Chem­i­cals Ltd, world's sec­ond-big­gest soda-ash maker, on Wed­nes­day said con­sol­i­dated net profit for June quar­ter fell 12.8% due to higher ex­penses, fi­nance cost and lower other in­come.

Con­sol­i­dated net profit stood at Rs.153.04 crore, against Rs.175.50 crore a year ago. Net sales rose 5.7% to Rs.4,015.73 crore from Rs.3,800.97 crore a year ago. Seven an­a­lysts polled by Bloomberg ex­pected the com­pany to post a net profit of Rs.224.4 crore and net sales of Rs.4,097.60 crore. To­tal ex­penses rose 6.9% from a year ago to Rs.3,690.09 crore, while fi­nance cost rose 9.8% to Rs.113.58 crore. Other in­come fell 41% to Rs.12.46 crore in June quar­ter as com­pared with Rs.21.10 crore a year ago. Shares of Tata Chem­i­cals closed 1.55% lower at Rs.483.70 apiece on BSE, while In­dia's bench­mark Sen­sex gained 0.54% to 28,223.08 points.

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