Mumbai: Tata Chemicals Ltd, the world’s second biggest soda ash maker, said third quarter profit rose to Rs224.07 crore from Rs223.78 crore in the year-earlier period.
Revenue rose 10% from a year earlier to Rs4,196.75 crore in the quarter ended 31 December.
R. Mukundan, managing director of Tata Chemicals, said, “Continued outstanding fertilizer subsidies have created working capital pressures for the company. However, on the whole we remain positive on recent fertilizer policy announcements.”
Shares of Tata Chemicals fell 2.18% to Rs354.75 while the benchmark Sensex fell 0.49% to end at 19,484.77 points.