Tata Chemicals Ltd, the Indian maker of caustic soda and fertilizers recorded a fiscal fourth-quarter profit rise of 47% from a year earlier.
A Reuters poll of brokerages had estimated the company’s January-March net profit at Rs1.27 billion.
Net income in the three months ended 31 March climbed to Rs944 million ($23 million) from Rs644 million a year earlier, the Mumbai-based company said in a statement to Bombay Stock Exchange on 30 May.Revenue rose 5% to Rs8.15 billion.
Tata Chemicals Ltd plans to enter bio-fuel production and will invest Rs300 million in the first phase to set up a plant in Maharashtra, a top official said on 30 May.
It is a large project and the company has set aside up to Rs500 million, Managing Director Homi Khusrokhan told reporters.The first bio-ethanol plant will have a capacity of 30 kilo litres per day, he said.