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.
To discuss issues facing the chemical industry go to ICIS connect
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections