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Tata Chemicals reports fall in quarterly profits

6:54 AM MDT | August 5, 2013 | Deepti Ramesh

Tata Chemicals (Mumbai) reports a 30% fall in net profits for its fiscal first quarter, ended 30 June, compared with the year-ago period, to 752.1 million Indian rupees ($12.3 million). First-quarter sales increased 7.7%, to Rs33.1 billion. During the quarter, “the company’s businesses in India had a decent performance, with chemicals and consumer businesses registering satisfactory numbers,” says R Mukundan, managing director of Tata Chemicals. “The company’s fertilizers and agrobusiness were adversely impacted by foreign exchange...

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