Tata Chemicals Reports Rise in Third-Quarter Profits; to Expand Urea Capacity

Tata Chemicals (Mumbai) recorded a more than doubling in net profits for its fiscal third quarter ended December 31, 2009 to Rs2.12 billion ($46 million) compared with the year-ago period. Sales decreased 28%, to Rs26.5 billion, however. In the fertilizers business, strong volume growth combined with continuing low energy utilization levels contributed well to profitability, Tata Chemicals says. The company plans to double urea production capacity at its Barbala, India unit, with an investment of about $760 million. The company says it will begin the capacity...

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