Tata Chemicals' PAT up 91% in Q2 to Rs 257 cr

Tata Chemicals Ltd (TCL) has registered a robust 91 per cent increase in consolidated PAT after minority interest at Rs 257 crore for the second quarter of 2014-15 due to better performance in India across all the businesses. The company’s income from operation was reported at Rs 4,803 crore for Q2 FY14-15, up by 11 percent.
 
Commenting on the company's performance, R Mukundan, Managing Director, Tata Chemicals, said, “The quarter and half year under review has been encouraging, apart from good performance by all businesses, the restructuring exercise is in progress, with early signs of improvements. Standalone revenue jumped by 21 percent to Rs 2843 crore and net profit jumped by 96 percent to Rs 209 crore due to better volumes in India across all the businesses. Better realisation at Tata Chemicals North America and positive performance by all the other businesses took the consolidated revenue to Rs 4803 crore, a jump of 11 percent. Net profit at consolidated level registered an impressive growth of 91 percent at Rs 257 crore.”

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Consumer products business continues to grow consistently at the market place and currently Tata Salt is market leader with 69 percent share in national branded edible salt market. In addition, I-Shakti pulses and Tata Swach have reported healthy volumes and continues to grow steadily with focus on increasing the penetration levels across India. In the fertiliser business, subsidy outstanding is at Rs 1211 crore which have come down as compared to previous quarters but still remains a challenge.
 
In line with its focus on building branded products portfolio, during this quarter, Tata Chemicals’ industrial chemicals business launched GranPlus+ - Speckle grade soda ash in the Indian market. Farm Essential business also expanded Tata Paras brand portfolio with launch Tata Paras 20:20 for West Bengal and Patna market. Living Essential business expanded Tata Swach portfolio with launch of Tata Swach Viva (UV+UF) and Tata Swach Nova (RO) variants in September 2014.
 
“As we continue to focus on reshaping the portfolio to enhance share of consumer product business and non-subsidised farm inputs business, we will also simultaneously concentrate on improving our balance sheet by regularly reviewing non-performing and non-core investments,” added Mukundan.