Tata Chemicals profit up by 61%
Tata Chemicals, on a stand-alone basis, reported a 61 per cent rise in net profit at Rs 94 crore for the quarter ending June 30, compared with Rs 58.6 crore a year ago. On a consolidated basis, the company reported net profit of Rs 106 crore slightly lower than a year ago due to provisioning of Rs 63 crore made towards restructuring of overseas operations in line with local accounting practices.
Voltas net profit dips by 5%
A decline in the revenues of the engineering products and services segment on account of a slowdown in the economy saw Tata group company Voltas report a dip of 5 per cent in its net profit to Rs 80 crore, over the same period last year. The company had a net profit of Rs 84 crore June quarter of 2008. Total income of the company rose by 18 per cent to Rs 1,248 crore for the year ended March 2009, from Rs 1,058 crore for the same period ended June 2009.
