Tata Chemicals' Q3 net up by 19 per cent
The Economic Times — February 1, 2007

Tata Chemicals has posted a 19.4-per cent increase in its net profit to Rs 116.77 crore for the third quarter ended December 31, 2006 compared to Rs 97.81 crore during the same period last fiscal. Net sales were up by 4 per cent to Rs 1,307.29 crore compared to Rs 1,257.88 crore during the same period in the corresponding quarter.

Commenting on the results, Tata Chemicals' MD Homi Khusrokhan, said, "Our results for the quarter under review are very encouraging. Despite the challenging business environment, our net profit after tax has increased by 21 per cent. Our cost reduction programmes have compensated cost increases both in India and Europe. Our capacity expansion at Magadi will further enhance profitability and expand sales of dense soda ash to the fast growing glass segment."

The company has a total debt of Rs 1,327 crore on December 31, 2006. Tata Chemicals' acquisition of the Brunner Mond Group has made it the third largest producer of soda ash in the world with a presence in Europe, Africa and Asia.

The integration process with Brunner is now complete and company's expansion of manufacturing facility at Magadi, Kenya is in progress. On BSE, the stock closed at Rs 227.25, down by 0.70 per cent or 1.6 points as compared to previous day's close.