Tata Chemicals Q1 net plunge 13% at Rs 153.04 cr

Tata Chemicals today reported a 13 per cent decline in consolidated net profit at Rs 153.04 crore for the quarter ended June 30.

Its net profit stood at Rs 175.5 crore in the year-ago period, the company said in a filing to the BSE.

Total income increased to Rs 4,079.37 crore in the first quarter of 2015-16 fiscal from Rs 3,871.37 crore in the same period of previous fiscal.

Net profit fell as its operational expenses grew to Rs 3,690 crore during the quarter ended June from Rs 3,452.90 crore in the year-ago period.

Finance cost also increased to Rs 113.58 crore from Rs 103.44 crore during the period under review.

Tata Chemicals, part of over USD 100 billion Tata Group, is currently the world's second largest producer of soda ash with manufacturing facilities in Asia, Europe, Africa and North America.

Besides chemicals, the company is into manufacturing of chemicals, fertiliser and salt. It also sells pulses, besan and spices. The company is the market leader in branded iodised salt segment in India. It also sells water purifier.