Tata Chem Q2 profit up 5%

BS 200 SCORECARD

Tata Chemicals has recorded a 5 per cent jump in its net profit at Rs 87.19 crore for the second quarter ended September 30, 2004, as compared with Rs 82.91 crore for same quarter of previous year.

Its net profit was higher even as the total income (net of excise) slipped to Rs 729.02 crore for the period under review compared with Rs 809.53 crore during the quarter ended September 30, 2003.

Prasad Menon, managing director, Tata Chemicals told media persons here that, "the company maintained its profitability despite increasing input costs- prices of coke and ammonia), shortage of phosphoric acid which resulted in reduced di-ammonium phosphate (DAP) production." Besides the transportation strike followed by strike by transport contractors affected its operations and sales at Mithapur plant. Although the continuing firm input prices may temper margins of the company, Menon claimed that the company with its continued input mix and aggressive marketing and distribution will be able to post at least 10 per cent growth in the revenues for the full year.