Strong demand, firm prices boost Tata Chemicals profits
Backed by strong demand and low operating cost, Tata Chemicals has posted a net profit of Rs 94.44 crore for the fourth quarter ended March 31, against Rs 64.42 crore in the same period previous year.
By PTI |
MUMBAI: Backed by strong demand and low operating cost, Tata Chemicals has posted a net profit of Rs 94.44 crore for the fourth quarter ended March 31, against Rs 64.42 crore in the same period previous year.
The Tata Group company's total income (net of excise), including interest on refund of tax, stood at Rs 814.68 crore, for the January-March quarter, while the same was at Rs 779.16 crore for the corresponding three-month period in 2006.
The company's board recommended a dividend of Rs 8 per share aggregating to Rs 201.33 crore, including tax payable on it.
For the year ended March 31, the company recorded a profit after tax of Rs 444.21 crore, compared to Rs 353.03 crore in the previous fiscal.
Net sales went up to Rs 5,809.6 crore during the reporting period from Rs 4,034.4 crore as on March-end 2006.
"Sales of all our major products were strong on the back of healthy demand which has continued in the current year. We believe the demand and prices for all our key products will continue to be firm both internationally and domestically," company's Managing Director Homi Khusrokhan said.
Tata Chemicals' domestic sales of chemicals, which includes soda ash and food additives, improved 13.4 per cent year-on-year while PBIT (profit before interest and tax) increased 13.6 per cent.
Despite the appreciation of rupee against dollar, Khusrokhan said, favourable demand, tight supply conditions and efficient operations enabled the business to perform well.
Tata Chemicals, which holds leadership position in the domestic soda ash market, believes that the price would remain firm in both the international as well as domestic market.
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