| |
Tata Chem net profit jumps to Rs
97 cr
The Telegraph — January 19,
2005
Tata Chemicals has posted a 63 per cent rise in net profit
to Rs 96.59 crore for the third quarter ended December 31
from Rs 59.15 crore in the corresponding period last year.
Total income (net of excise) of the company has increased
to Rs 1090.83 crore from Rs 777.61 crore in the year-ago period.
Tata Chemicals, which manufactures chemicals, fertilisers,
food additives and synthetic soda ash, said in inorganic chemicals,
the demand outlook for the soda ash business, particularly
from the glass segment, remains strong both locally and globally.
On the back of this demand, as well as spiralling raw material
and freight costs, prices of soda ash were firmed up in November
2004 in select markets by approximately 7 per cent, it added.
While the company is looking at increasing its presence in
the food additives business, it said a good Rabi season is
expected to result in continued healthy demand for nitrogenous
and complex fertilisers though some purchases may have been
made in advance.
“The revised phosphoric acid price that the government
and industry have negotiated can be expected to provide some
relief to the complex fertiliser business. However, ammonia
prices remain strong,” it added. Regarding the performance
for the third quarter, managing director Prasad Menon said
it was a result of improved sales volumes and efficiency enhancement
across the company’s businesses.
|
