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Delayed subsidy creating liquidity problems: Tata Chemicals

The company has pending dues of Rs.1,496 crore from the government on account of fertilizer subsidies
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First Published: Fri, Feb 08 2013. 07 44 PM IST
The government controls prices of some fertilizers sold to farmers, and compensates producers through cash payments to make up for the shortfall. Photo: Hindustan Times
The government controls prices of some fertilizers sold to farmers, and compensates producers through cash payments to make up for the shortfall. Photo: Hindustan Times
Mumbai: Tata Chemicals Ltd has pending dues of Rs.1,496 crore ($281 million) from the government on account of fertilizer subsidies, its chief financial officer said, adding that delayed payments were creating liquidity problems for the company.
The government controls prices of some fertilizers sold to farmers, and compensates producers through cash payments to make up for the shortfall.
Earlier on Friday, Tata Chemicals posted a net profit of Rs.224 crore, unchanged from a year earlier. Reuters
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First Published: Fri, Feb 08 2013. 07 44 PM IST
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