BackDelayed subsidy creating liquidity problems: Tata Chemicals
1 min read
08 Feb 2013, 07:44 PM IST
The company has pending dues of `1,496 crore from the government on account of fertilizer subsidies
Premium(Hindustan Times)
Mumbai: Tata Chemicals Ltd has pending dues of ₹ 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 ₹ 224 crore, unchanged from a year earlier. Reuters
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Published: 08 Feb 2013, 07:44 PM IST
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