INSUBCONTINENT EXCLUSIVE:
NEW DELHI: Tata Chemicals Friday posted a 26.46 per cent jump in its consolidated net profit at Rs 450.10 crore during the fourth quarter of
2018-19 fiscal on strong sales.
The company's net profit stood at Rs 355.90 crore in the same quarter during previous fiscal
This excludes Rs 854.29 crore profit from its discontinued operations in the said period, the company said in a regulatory filing.
Total
income increased to Rs 2,845.26 crore on a consolidated basis during the January-March quarter of 2018-19 from Rs 2,628.83 crore in the
year-ago period.
For the full 2018-19 fiscal, Tata Chemicals' consolidated net profit declined to Rs 1,394.83 crore from Rs 1,560 crore in
2017-18.
Total income during the year increased to Rs 11,707.97 crore from Rs 10,504.82 crore in 2017-18.
Commenting on the performance, the
company's managing director and CEO R Mukundan said: "We are pleased to share a positive overall performance despite some challenges on
the energy cost and overall plant's fixed cost."
The overall operational efficiency continues to grow and the performance was on expected
lines across all geographies, except a few obstacles in the UK operations, he said.
Indian chemicals business registered a robust
performance, while the US market delivered better results than the same period last year
Kenya exhibited a positive momentum, he added.
Mukundan further said the production volumes for all key products are above plan
There has been an increase in variable cost of production owing to higher fuel costs.
"Our Nellore unit is on track and is at the final
The Cuddalore plant is expected to start commercial production of specialty silica in the first half of 2019-20," he said.
The year also
snack and Jeera Sattu flour that is available in modern minded stores as well as on select online platforms.
The company said it has forayed
into homecare segment with the pilot launch of Tata DX, a detergent brand, which was tested in the West Bengal market and received a
positive consumer response.
The company's board has recommended a dividend of Rs 12.50 per share.
Shares of Tata Chemicals Friday dropped
3.51 per cent to settle at Rs 557.50 apiece on the BSE.