New Delhi: Indian Global Corporation Tata Chemicals Ltd. reported a 14 per cent decline in consolidated net profit at Rs 177.9 crore for the April-June quarter. The corporation further stated in a regulatory filing that its net profit stood at Rs 206.2 crore in the year-before period. Total income reduced to Rs 2,667.33 crore in the April-June quarter of this fiscal year from Rs 3,340.13 crore in the subsequent period of preceding year.
The corporation’s total comprehensive income decline by 53 per cent to Rs 298.23 crore in the first quarter under review. In the year-before period, the similar stood at Rs 640 crore. Tata Chemicals is into salt, pulses, fertilisers, seeds and chemicals business. Tata Chemicals stated the results were “adversely impacted” due to provisional conclusion of the Haldia operations as of the ammonia pipeline relocation project and commissioning thereof a notice issued by the Central Pollution Control Board.
The plant resumed normal operations from previous month. Tata Chemicals Managing Director and CEO R Mukundan conveyed that, the first quarter under review has seen a good presentation from the Global Chemicals Business. Our sustained focus on enhancing operational performance and cost efficiencies has guarantee margin increase inspite of a fire occurrence at Lostock.
Mukundan further added that there was a provisional suspension of operations at Haldia in the April-June quarter due to the intended relocation of the ammonia pipeline and a notice from CPCB. Though plant operations have resumed and our focus will be on stabilizing the plant operations. The customer’s products business carries on growing and Tata Salt maintains its market leader position.