Tata Chemicals Reports Profits Down 34%

Tata Chemicals (Mumbai) recorded sales up 3.7% in its first-quarter 2013, to Rs3.06 billion ($55 million), compared with Rs2.95 billion in the prior-year period. Net profits and operating profits before tax decreased 34% and 46% year-over-year, to Rs107.59 million and Rs210.31 million, respectively. Tata's first quarter 2013 ended in June 30. There were a number of challenges during the first quarter of fiscal 2013, including Haldia and Imacid plant closures, which lasted most of the quarter, due to delay in acid contract...

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