Tata Chem posts 68% rise in full year op profits

24 June 2008 12:43  [Source: ICIS news]

MUMBAI (ICIS news)--India’s Tata Chemicals has posted a 68% year-on-year rise in its full-year operating profit to Indian rupees (Rs)13.2bn ($307.5m) on strong performance from its urea operations , the soda ash producer said on Tuesday.

"Our urea operations performed strongly with production for the year under review at a record high," said Homi Khusrokhan, managing director of Tata Chemicals.

However, erratic availability of phosphoric acid impacted their fertilizer operations, he added.

The company is the world's second largest producer of soda ash and the domestic leader for branded salt, fertilizer and urea products.

While the firm’s net sales saw a marginal rise to Rs40.7bn from Rs39.9bn, its full-year net profit more than doubled to Rs9.5bn from Rs4.4bn.

Tata Chemicals shares closed down 6.62% at Rs303.80 on the Bombay Stock Exchange.


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By: Aaron Rodrigues
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