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Tata Chemicals reports huge rise in first-quarter profits

8:47 AM MDT | August 6, 2014 | Deepti Ramesh

Tata Chemicals' (Mumbai) net profits for its fiscal first quarter, ended 30 June, more than doubled compared with the year-ago period, to 1.75 billion Indian rupees ($28.7 million). First-quarter sales increased 17.4%, to Rs38.5 billion. “The quarter under review has been encouraging, and we are starting to see the positive results of the painful yet inevitable restructuring exercise carried out to ensure the viability and sustainability of our operations in the United Kingdom and Magadi, Kenya,” says R Mukundan, managing director of Tata Chemicals...

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