BackTata Chemicals Q1 net profit falls 12.8% to Rs153.04 crore
Profit of the world's second-biggest soda-ash maker declined in the June quarter due to higher expenses, finance cost and lower other income
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Mumbai: Tata Group-controlled Tata Chemicals Ltd, world’s second-biggest soda-ash maker, on Wednesday said consolidated net profit for June quarter fell 12.8% due to higher expenses, finance cost and lower other income.
Consolidated net profit stood at ₹ 153.04 crore, against ₹ 175.50 crore a year ago. Net sales rose 5.7% to ₹ 4,015.73 crore from ₹ 3,800.97 crore a year ago.
Seven analysts polled by Bloomberg expected the company to post a net profit of ₹ 224.4 crore and net sales of ₹ 4,097.60 crore.
Total expenses rose 6.9% from a year ago to ₹ 3,690.09 crore, while finance cost rose 9.8% to ₹ 113.58 crore.
Other income fell 41% to ₹ 12.46 crore in June quarter as compared with ₹ 21.10 crore a year ago.
Shares of Tata Chemicals closed 1.55% lower at ₹ 483.70 apiece on BSE, while India’s benchmark Sensex gained 0.54% to 28,223.08 points.
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