Tata Chemicals has today reported a consolidated annual net profit for 2009-10 at Rs 606 crore, which is 6.4 per cent lower than last year's net profit at Rs 648 crore. The total revenue for the financial year dipped much steeply as it reported a 24.3 per cent fall to Rs Rs 9,712 crore, from Rs 12,832 crore in 2008-09.
Tata Chemicals has also informed the stock exchanges that the board of directors have approved payment of dividend at Rs 9 per share of face value of Rs 10 each. In addition, the company has sought an approval from the board to issue 11,500,000 equity shares to the promoter i.e. Tata Sons, on a preferential basis.
This issue is however subject to approval from the members of the company. The proposed issue will be made at a price to be determined as per the applicable ICDR Regulations, the company said.
