Focus on strong operational excellence helped Tata Chemicals witness a 32 per cent growth in its consolidated net profit at Rs 318.39 crore for the quarter ended December despite lower sales.
Focus on strong operational excellence helped Tata Chemicals witness a 32 percent growth in its consolidated net profit at Rs 318.39 crore for the quarter ended December despite lower sales.
Company's net profit stood at Rs 241.84 crore in the corresponding quarter last year, it said today.
Income from operations, however, fell to Rs 3,494.8 crore in the third quarter of this fiscal from Rs 3,991.25 crore in the corresponding period of previous year.
"There was a decline in total income from operations during the third quarter as we did not sell any trade fertilisers and only sold our own manufactured fertiliser products," Tata Chemicals Managing Director R Mukundan told reporters here.
He said overall the third quarter registered good performance across businesses in the country as well as other geographies, in spite of challenges faced on several fronts.
"Strong focus on operational excellence helped maintain the steady performance of the Indian chemicals and consumer business. Our North American, European and African operations performed well due improved reliability of operations. We remain committed to our focus on driving best in class operational excellence," he added.
The company's North American operations registered increased production volume over the previous year, benefiting from improved plant reliability.
Its UK operations continued their improved performance on account of cost control and Kenya operations improves its product performance.
"Profit performance improved further across all units," Mukundan added.
He said recent products launched under the umbrella brand of 'Tata Sampann', have also been received well and are being made available across regions in the country.
"However, there has been a short term impact on performance post the government intervention on capping prices of pulses," he said.Get access to India's fastest growing financial subscriptions service Moneycontrol Pro for as little as Rs 599 for first year. Use the code "GETPRO". Moneycontrol Pro offers you all the information you need for wealth creation including actionable investment ideas, independent research and insights & analysis For more information, check out the Moneycontrol website or mobile app.