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Tata Chemicals Reports Fall in Profits

6:13 AM MDT | August 8, 2011 | Deepti Ramesh

Tata Chemicals (Mumbai) recorded a 7.4% fall in net profits for its fiscal first quarter ended June 30, 2011, compared with the year-ago period, to about Rs2 billion ($44.5 million). Sales increased 18%, to Rs29.2 billion. Tata Chemicals’ soda ash business saw healthy demand in India in the first quarter. Rising costs of raw materials continue to exert pressure, the company says. The performance of Tata Chemicals North America operations improved due to higher production volumes and renegotiated contracts. In Tata Chemicals’ fertilizers business...

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