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Tata Chemicals swings to loss

8:15 AM MDT | May 28, 2013 | Deepti Ramesh

Tata Chemicals (Mumbai) reports a net loss of 1.88 billion Indian rupees ($33.7 million) for its fiscal fourth quarter, ended 31 March, compared with a net profit of 1.38 billion in the year-ago quarter. Fourth-quarter sales decreased 2.2%, to Rs33.9 billion. For the full fiscal year, ended 31 March, Tata Chemicals reports a 52% fall in net profits compared with the previous fiscal year, to Rs4 billion. Full-year sales increased 7.5%, to Rs148.6 billion. During the fiscal year, “the domestic chemicals and consumer business registered a 36% Ebit growth...

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