Mumbai: Tata Chemicals has posted a 60.80
per cent increase in its standalone net profit at Rs 94.40
crore in in the first quarter as against Rs 58.70 crore in the
period a year ago.
The Tata group company`s revenues during this period went
up by 19.40 per cent at Rs 1,441 crore as against Rs 1,207
crore in the last financial year.
However, the company`s consolidated profit after tax
declined to Rs 106 crore as against Rs 107 crore in the same
quarter of the previous fiscal.
"The consolidated Q1 net profit is not comparable with
that in the same period of previous year, due to the one-time
provisioning of Rs 63 crore (net of tax) made towards the
restructuring operations in line with GAPP," Tata Chemicals`s
Executive Director and Chief Financial Officer, P K Ghose,
told reporters here.
The company made a repayment of Rs 440 crore towards debt
in the quarter. Total cash on the balance-sheet stood at Rs
1,253 crore as on the quarter ended June 30, which included
value of fertiliser bonds worth Rs 361 crore as well as the
market value of liquid mutual funds investments of Rs 329
Ghose said that strong revenue and profitability
performance on the back of improving demand and active cost
management was one of the highlights of the quarter.