Tata Chemicals on Friday reported a 32.34 percent rise in its consolidated net profit at Rs 279.65 crore for the quarter ended June 30 as compared to Rs 211.31 crore in the corresponding period previous year.
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Revenue declined 8.6 percent to Rs 3,651 crore, well below the consensus estimate of Rs 4,242 crore.
Tata Chemicals Ltd. reported mixed June quarter earnings, with profit growth surpassing analysts’ estimates and revenue falling short of expectations.
The consumer product business continues its leadership in the branded salt segment, said Mukundan. Revenue slipped almost 9% to Rs 3,652 crore, while operating margin improved from 13.4% to 17%.
Revenues for the company from its value added products business grew 26.44% to Rs 337.84 crore compared with Rs 267.18 crore in Q1 of FY2016. The delayed onset of monsoon impacted the results in the first quarter, however “we remain positive and expect conditions to improve in the next quarter”, said Tata Chemicals MD R Mukundan in a statement.
The company reported 21 per cent an increase in its total income from operations at Rs 426 crore in the first quarter of this fiscal as compared to Rs 352 crore in the corresponding quarter of the previous year.
United States production was restored with sustained production levels and Magadi continues focus on improving operational performance in Q1 FY16-17, he added. The standalone income for Tata Coffee grew about 18 per cent during the June quarter to Rs 206.31 crore over corresponding last quarter’s Rs 15.22 crore.
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Sarin said the company continues to grow its Instant Coffee portfolio in a robust manner by focusing on enhanced sales in key geographies and strengthening customer relationships.
