Tata Chemicals Q3 profit declines 71% to ₹219.48 crore1 min read . Updated: 05 Feb 2019, 08:52 PM IST
- Total income rises to Rs.2,927.94 crore during the third quarter, from Rs.2,591.07 crore a year ago
- Net profit falls during Q3 due to exceptional loss of Rs.28 crore for provision of an increase in pension liability in its group's UK entities
NEW DELHI : Tata Chemicals Tuesday reported a 71% decline in its consolidated net profit to ₹219.48 crore for the December 2018 quarter.
Its net profit stood at ₹759.07 crore in the year-ago quarter, the company said in a regulatory filing.
Total income, however, rose to ₹2,927.94 crore during the third quarter, from ₹2,591.07 crore a year ago.
Net profit fell during the quarter due to exceptional loss of ₹28 crore for provision of an increase in pension liability in its group's UK entities.
Moreover, the group has clocked a deferred (exceptional) tax gain in its group firm Tata Chemical North America (TCNA) of ₹247 crore in the corresponding period of the previous year.
Besides chemicals, the company is into salt manufacturing and it also sells pulses and spices under Tata Sampann brand. The company has exited the fertiliser business.